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Planned BP stake sale in Indian unit has not taken place - exchange data

Reuters - UK Focus

MUMBAI, Aug 24 (Reuters) - An up to $261 million share sale in Castrol India Ltd (BSE: 500870.BO - news) by BP Plc due to take place on Wednesday according to a term sheet seen by Reuters had not taken place as of the end of the trading day, according to exchange data.

BP, which owns a majority stake in Castrol India, had been due to sell an up to 8.53 percent stake including an upsize option, according to the term sheet seen by Reuters on Tuesday.

A spokesman for BP declined to comment.

Banking sources in India said they were not aware of a share sale having been launched. (Reporting by Manoj Rawal; Editing by Mark Potter)