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02.11.26 - 13:06
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Stonepeak Completes Acquisition of Majority Controlling Interest in Castrol From bp (Business Wire)
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New ownership structure gives Castrol greater financial and operational flexibility to support its next phase of growth
Establishes new Board of Directors for Castrol chaired by Ben van Beurden, Chairman of Clariant AG and former Chief Executive Officer of Shell plcLONDON & NEW YORK--(BUSINESS WIRE)--Stonepeak, a leading alternative investment firm specialising in infrastructure, today announced it has completed the acquisition of a 65% stake in Castrol, a global leader in lubricants, from BP p.l.c. (“bp”) (NYSE: BP) (LON: BP). bp will retain a 35% minority interest in Castrol.
With Stonepeak's backing and continued support from bp, Castrol will build on its position as one of the world's largest providers of mission-critical lubricants and thermal management fluids to consumer automotive, commercial, and industrial end markets. The new ownership structure gives Castrol greater financial and operational flexibility, allowing the business to accelerate growth across its existing footprint and into ad...
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