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Stock impact report

CPP Investments buys stake in Castrol [Yahoo! Finance Canada]

BP p.l.c. (BP) 
Last bp p.l.c. earnings: 4/29 04:01 pm Check Earnings Report
investment firm Stonepeak, has acquired a stake in British oil company Castrol, the company announced on Wednesday. CPPIB's stake in Castrol will be an indirect non-controlling interest, while Stonepeak is acquiring a majority controlling interest from BP PLC , for approximately US$10.1 billion. CPPIB will invest up to US$1.05 billion to support the transaction. Castrol, which markets industrial and automotive lubricants, is one of the largest lubricants providers globally. It manufactures and markets engine oils, industrial fluids and greases through approximately 20 blending plants and more than 100 third-party facilities and warehouses worldwide across 150 countries. Bill Rogers, the head of sustainable energies at CPP Investments, said Castrol is well positioned for a growing role in emerging applications, from electric vehicles to data centres. “Our investment alongside Stonepeak aligns with our strategy of backing businesses that are essential to the energy system,” he s Show less Read more
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