BP : BP takes the market by surprise, sells all its petrochemical assets for $ 5bn
>A surprise disposal but which makes sense - BP announced the sale of its petrochemicals business to INEOS for $ 5bn. BP’s divestment of its petrochemicals arm was not expected and the assets had not been put up for sale. The sale was carried out on the basis of an average EV/EBITDA multiple for the last three years of 7.2x (EBIT of $ 550m in line with the group’s target announced on a field trip in 2017 and a DD&A of $ 150m). This seems a fair multiple and compares ...BP is an integrated oil and gas group based in the United Kingdom. Co. is engaged in the exploration and production of crude oil and natural gas; refining, marketing, supply and transportation; and the manufacture and marketing of petrochemicals. Co. operates globally, with business activities in Europe, the U.S., Canada, Russia, South America, Australasia, Asia and parts of Africa. Co. operates in two business segments: Exploration and Production - including oil and natural gas exploration and development and production; and Refining and Marketing- activities include the refining, manufacturing, supply and trading, marketing and transportation of crude oil, petroleum and petrochemicals.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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