Apollo Global will acquire a 25% stake in BP Pipelines for $1 billion.

Investing.com — BP announced on Friday that it would sell a 25% stake in BP Pipelines (TANAP), which it does not control, to funds managed by the U.S.-based asset management company Apollo Global for approximately $1 billion. This move is part of BP's significant strategic shift announced in February, aimed at boosting earnings and regaining investor confidence.

Additionally, BP stated that it would continue to explore further collaboration opportunities with Apollo Global. Potential areas for this cooperation include infrastructure, gas, and low-carbon energy assets. This article has been generated with the support of artificial intelligence, translated, and reviewed by an editor. For more information, please refer to our Terms and Conditions section.