– Stonepeak agreed to acquire a majority controlling interest in Castrol, valuing the business at an enterprise value of approximately $10.1 billion
– BP will retain a 35% minority interest in Castrol following the transaction
CPP Investments will invest up to USD 1.05 billion, obtaining an indirect stake in Castrol
– Castrol is a global leader in lubricants, serving consumer automotive, commercial, and industrial markets
– The company manufactures engine oils, industrial fluids, and greases
– Operations include around 20 blending plants and more than 100 third-party facilities and warehouses worldwide. Castrol operates across approximately 150 countries
– The brand has a 126-year heritage and a long history of high-profile applications, including aviation, space missions, and professional motorsports
– Castrol is recognized for high performance, premium quality, and advanced technology
– Borreca, Anthony, Senior Managing Director and Co-Head of Energy at Stonepeak, highlighted lubricants as mission-critical products essential to global transportation and industry
– Michelle JOU (周彬彬）, Global CEO of Castrol, emphasized Stonepeak’s capital support and sector expertise as key drivers for future innovation and growth
– Bill Rogers, Managing Director, Head of Sustainable Energies at CPP Investments, described Castrol as a high-quality, essential energy and industrial business with growth potential in areas such as electric vehicles and data centres
– The transaction is expected to close by the end of 2026, subject to regulatory approvals
– Legal and advisory roles included Simpson Thacher & Bartlett LLP, DLA Piper, Paul Weiss, and UBS
– A mandatory tender offer for public shareholders of Castrol India Limited will follow completion of the transaction, in line with Indian takeover regulations
– UBS Securities India Private Limited is managing the tender offer, with Khaitan & Co acting as Indian legal counsel
