The Zhitong Finance App learned that British Petroleum (BP.US) completed a transaction to sell 65% of Castrol's (Castrol) lubricants business to US private equity firm Stonepeak Partners on Monday. After the deal is completed, BP received $6 billion in after-tax revenue, which will be used to reduce debt and strengthen financial strength. BP also retained 35% of Castrol's shares and formed a new joint venture with Stonepeak.

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