bp sells 5% stake in Aker BP for NOK 9.83bn
- bp sold 5% of its 15.9% holding in Aker BP at NOK 311 per share.
- The sale generated gross proceeds of approximately NOK 9.83 billion (about $1.06 billion).
- After the transaction bp holds 68.7 million shares, representing about a 10.9% interest, and has a 90-day lock-up on remaining shares subject to customary exemptions.
- bp now expects full-year 2026 divestment and other proceeds of around $9 billion, roughly $1 billion higher than previously guided.
Transaction details
bp has sold 5% of its 15.9% shareholding in Aker BP at NOK 311 per share, raising gross proceeds of approximately NOK 9.83 billion (about $1.06 billion).
Post-sale position
Following the sale, bp holds 68.7 million shares, representing an approximate 10.9% interest in Aker BP, and has entered into a 90-day lock-up on its remaining shares, subject to customary exemptions.
Use of proceeds and guidance
Proceeds from the sale will be used to strengthen bp’s balance sheet. bp now expects full-year 2026 divestment and other proceeds to be around $9 billion, approximately $1 billion higher than previously guided.
Advisers and company comment
Barclays acted as Sole Global Coordinator & Bookrunner and DNB Carnegie acted as Co-Bookrunner. bp CEO Meg O’Neill said the company is realising part of Aker BP’s value to further strengthen bp’s balance sheet as it builds a simpler, stronger business.
Source: bp