BP to sell non-controlling stake in TAP gas link unit to Apollo

BP has agreed to sell to global asset manager Apollo a non-controlling stake in its subsidiary BP Pipelines TAP, which holds a 20% stake in the key TAP pipeline that brings gas from Azerbaijan to Europe. In a statement, BP said the agreement for the Apollo-managed funds — Apollo Funds — to purchase the stake was valued at some $1…BP has agreed to sell to global asset manager Apollo a non-controlling stake in its subsidiary BP Pipelines TAP, which holds a 20% stake in the key TAP pipeline that brings gas from Azerbaijan to Europe. In a statement, BP said the agreement for the Apollo-managed funds — Apollo Funds — to purchase the stake was valued at some $1…Read More