Stonepeak to Acquire Majority Stake in Castrol from bp with CPP Investments | Investissements RPC Supporting $10.1 Billion Transaction

– 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

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