BRITISH PETROLEUM TO SELL INTEREST IN BP CANADA UNIT

British Petroleum plc plans to sell its interest in Canadian subsidiary BP Canada, in the process withdrawing from North American onshore upstream operations except for Alaska's North Slope. The transaction will be lead-managed by RBC Dominion Securities, which is arranging the sale of the shares to investors at a price of $13 (Canadian)/share to be paid in three installments during the next 24 months. BP expects the sale to raise $374 million (Canadian).

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