BP sells 5% of Aker BP stake for about $1.06 bn, cutting its holding to 10.9%
BP completed the sale of a 5% share of Norwegian producer Aker BP, receiving roughly $1.06 billion (NOK 9.83 billion) in cash. The transaction leaves BP with an approximate 10.9% interest in Aker BP and includes a 90‑day lock‑up on the remaining shares. Chief executive Meg O’Neill said the proceeds will be used to reinforce the balance sheet and that the timing reflects Aker BP’s strong performance and favourable market conditions.
Why it matters
The cash inflow will bolster BP’s balance sheet and enable it to meet its revised 2026 divestment target of about $9 billion, which is $1 billion higher than previously forecast (BP said in the release). The sale also reduces BP’s exposure to the Norwegian offshore sector.
Key facts
- 1BP sold a 5% stake in Aker BP for approximately $1.06 billion, equivalent to NOK 9.83 billion. tradingview.com
- 2After the transaction BP holds about 10.9% of Aker BP, down from 15.9%. tradingview.com
- 3The sale generated gross proceeds of roughly NOK 9.83 billion ($1.06 billion). tradingview.com
- 4BP expects total divestment and other proceeds for 2026 to be around $9 billion, about $1 billion more than its earlier guidance. tradingview.com
- 5A 90‑day lock‑up period applies to BP’s remaining Aker BP shares, with standard exemptions. tradingview.com
- 6Barclays acted as sole global coordinator and bookrunner, while DNB Carnegie served as co‑bookrunner for the sale. tradingview.com
Summary written by AlphAI AI Desk from 20 of 22 sources. Not investment advice. Figures are as stated by the linked sources.