BP lower after 5% Aker BP stake sale

By Reuters News

** 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%

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