LONDON (dpa-AFX) - BP Plc (BP, BP_UN.TO, BP.L, BPE5.DE) on Thursday said that it has completed the sale of a 5 percent stake in Aker BP, reducing its shareholding from 15.9 percent to around 10.9 percent. The shares were sold at 311 Norwegian Kroner each, leading to gross proceeds of approximately 9.83 billion Kroner or $1.06 billion.
The British oil and gas company said that following the transaction, it will retain 68.7 million shares in Aker BP, representing an around 10.9 percent ownership interest. The company has also agreed to a 90-day lock-up period on its remaining stake, subject to customary exemptions.
Additionally, BP Plc has raised its full-year 2026 divestment and other proceeds target to approximately $9 billion, around $1 billion higher than its previous guidance.
The company said that Barclays acted as the sole global coordinator and bookrunner, while DNB Carnegie served as co-bookrunner for the transaction.
On the LSE, BP.L is currently down 1.90 percent on Thursday at 561.30 pence.
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