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CPP Investments and Stonepeak to buy majority of Castrol from BP for $10.1B, with BP keeping 35%.
Canada Pension Plan Investment Board and private equity firm Stonepeak have agreed to acquire a majority stake in Castrol from BP for $10.1 billion, with CPP Investments contributing up to $1.05 billion for a minority share.
The transaction, expected to close by late 2026, is part of BP’s broader strategy to divest $20 billion in assets, reduce debt, and refocus on core oil and gas operations.
BP will retain a 35% stake in Castrol, which will operate as a joint venture under new ownership.
The deal reflects shifting industry trends toward fossil fuel assets amid investor pressure and a strategic pivot away from green energy investments.
CPP Investments y Stonepeak para comprar la mayoría de Castrol de BP por $10.1B, con BP manteniendo el 35%.