Apollo takes 25% stake in BP Pipelines for $1B - Breaking The News

Apollo takes 25% stake in BP Pipelines for $1B

21 March

1 min read

EPA-EFE/ANDY RAIN

BP plc announced on Friday that Apollo Funds will buy a non-controlling 25% stake in its pipelines business for around $1 billion. The transaction is expected to close in the second quarter of 2025. BP Pipelines owns a 12% interest in the Trans-Anatolian gas pipeline (TANAP), which carries natural gas from Azerbaijan across Turkey.

BP said the funds will go toward its plan for $20 billion in divestment and other proceeds. "This [deal] unlocks capital from our global portfolio while retaining our role in this strategic asset for bringing Azerbaijan gas to Europe. bp and Apollo will continue to explore further strategic cooperation and mutually beneficial opportunities," BP's Executive Vice President of gas and low carbon energy William Lin said.

mergers and acquisitions bp apollo

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