BP gets a 49% stake in a fuel retail joint venture with Indian Reliance Industries | Invezz
British Petroleum (LON: BP) said on Saturday that it has invested £790 million in India's Reliance Industries. The investment, it added, will get the British oil major a minority stake in Reliance's fuel retail business. BP recently raised £9.50 billion via its first hybrid bonds issue.
Shares of BP closed at £17.83 per share on Friday that represents a 40% decline year to date in the stock market after recovering from a low of £12.76 per share in March when the impact of the ongoing Coronavirus pandemic was at its peak. At the time of writing, British Petroleum has a market capitalisation of £75.49 billion.
