BP completes sale of 65% Castrol stake to Stonepeak

Nov 2 (Reuters) - 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.  

(Reporting by Yadarisa Shabong in Bengaluru; Editing by Sonia Cheema)