Stonepeak to Acquire Majority Controlling Interest in Castrol from bp
BP p.l.c. (BP)
Last bp p.l.c. earnings: 4/29 04:01 pm
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Source: Business Wire
$10.1 billion transaction to support Castrol’s next phase of growth LONDON & NEW YORK--(BUSINESS WIRE)--Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, today announced an agreement to acquire a majority controlling interest in Castrol (or “the Company”), a global leader in lubricants, from BP p.l.c. (“bp”) (NYSE: BP) (LON: BP), in a transaction valuing the business at an enterprise value of approximately $10.1 billion. bp will retain a 35% minority interest in Castrol as part of the transaction. In connection with the transaction, Canada Pension Plan Investment Board (“CPP Investments”) will invest up to USD$1.05 billion in support of the transaction, resulting in an indirect stake in Castrol.This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251223167333/en/Castrol is one of the largest lubricants providers globally and serves consumer automotive customers, as well as commerc
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- BP sells stake in motor oil arm Castrol for $6bn [Yahoo! Finance]Yahoo! Finance
- Oil giant BP to sell 65% stake in $10 billion Castrol unit [MSNBC.com]MSNBC.com
- BP to Sell Majority Stake in Castrol Business for $6 Billion [Yahoo! Finance]Yahoo! Finance
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