BP lower after 5% Aker BP stake sale
05/11/2026 09:06
BUZZ-BP lower after 5% Aker BP stake sale ** British oil major BP BP.L down 1.4% at 563.3p
** Co raises $1.06 bln from selling 5% stake in Norwegian oil & gas company Aker BP AKRBP.OL
** Aker BP shares tumble almost 11%
** "Timing is everything and while BP getting $1 bln in cash is a good thing for its target of reducing liabilities, the price for Aker BP is... a discount to the real value in those shares," says Jefferies analyst Mark Wilson
** BP also forecasts 2026 divestment & other proceeds to be ~$9 bln, about $1 bln higher than previously projected
** So far in 2026, BP up 29.6% while Aker BP up 22.8%
(Reporting by Anushka Chourasia in Bengaluru)