BP Sells Stake In Gas Pipeline To Apollo, Raises $1B
Portfolio Pulse from Lekha Gupta
BP has sold a non-controlling stake in its subsidiary, BP Pipelines TAP Limited, to Apollo Global Management for $1 billion. This move helps BP towards its divestment goal and maintains its control over the pipeline. The deal is expected to close in Q4 2024.
September 16, 2024 | 12:19 pm
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POSITIVE IMPACT
Apollo Global Management acquires a non-controlling stake in BP Pipelines TAP Limited, providing its investors with exposure to a stable infrastructure asset.
Apollo's acquisition of a stake in BP Pipelines TAP Limited provides its investors with exposure to a stable infrastructure asset, which is likely to be seen as a positive strategic move, potentially boosting Apollo's stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
BP sold a non-controlling stake in its pipeline subsidiary to Apollo for $1 billion, aiding its divestment goals while retaining control over the asset.
The sale of a stake in BP Pipelines TAP Limited to Apollo for $1 billion helps BP meet its divestment goals and maintain control over the asset. This strategic move is likely to be viewed positively by investors, potentially boosting BP's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90