Sunday, February 5, 2023

BP sells London headquarters for 250 million pounds

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(Reuters) – BP has agreed to sell its London headquarters for 250 million pounds, a spokesman said on Friday, the latest in a string of disposals as the British energy company shifts to low-carbon energy.

BP also agreed to lease 1 St James’s Square in central London back from Hong Kong-based property investment company Lifestyle International for two years, a BP spokesman said.

Lifestyle International also announced the deal in a filing on the Hong Kong stock exchange.

BP, led by CEO Bernard Looney, aims to sell $25 billion of assets by 2025, around half of which it has already divested or agreed a deal on, in an effort to reduce debt as it shifts to low carbon energy investments.

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