BP completes sale of 65% Castrol stake to Stonepeak

​BP ​has completed ‌the sale ​of a 65% ‌stake of its Castrol lubricants business to ‌US private equity firm Stonepeak ‌and will use the $6 billion in ⁠after-tax proceeds ​to ⁠cut debt, it said ⁠on Monday.

The oil ​major agreed the stake ⁠sale last year ⁠and ​will retain a 35% stake in ⁠a new joint venture ⁠with ⁠Stonepeak.