Stonepeak Buys Majority Stake in Castrol

Stonepeak, a private infrastructure firm, is acquiring a majority stake in Castrol, the century-old lubricant giant, from BP. BP retains a 35% minority share. Canada Pension Plan Investments is also investing up to $1.05 billion. Castrol, known for engine oils, industrial fluids, and greases, leads in markets like aviation, motorsport, and now electric vehicles plus data centers. Stonepeak sees potential in these essential, low-profile businesses. The deal, pending approvals, should close by the end of 2026, triggering a buyout offer for Castrol Indias public shareholders.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.