BP Said to Explore Sale of German Chemicals Unit DHC Solvent (1)

BP Plc is exploring a sale of a German chemicals unit as it continues a push to divest peripheral businesses, according to people with knowledge of the matter.

The British energy giant is reaching out to potential acquirers to gauge their interest in DHC Solvent Chemie GmbH, the people said, asking not to be identified as the matter is private. DHC manufactures a range of specialized solvents used in the paint, agricultural and medical industries, according to its website.

BP’s new leadership has been seeking to strengthen finances and transition away from being a traditional oil company. In June ...