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

Reuters
A BP logo is seen at a petrol station in London, Britain January 15, 2015. REUTERS/Luke MacGregor/File Photo (Reuters)

MUMBAI (Reuters) - An up to $261 million (197.21 million pounds) share sale in Castrol India Ltd 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)