Stonepeak Completes Acquisition Of 51% Stake In Castrol India

Stonepeak Infrastructure Fund V, through its entity Motion JVCo Limited, has completed the acquisition of Castrol Group Holdings Limited from bp p.l.c., indirectly taking control of Castrol India through its 51% stake in the Indian lubricant manufacturer.

The transaction was completed on October 30, 2026, under a sale and purchase agreement signed between bp and Motion JVCo on December 23, 2025. Castrol India disclosed the transaction's completion in a regulatory filing dated November 2, 2026.

Under the transaction, Motion JVCo acquired 100% of the equity share capital of Castrol Group Holdings Limited (CGHL), which in turn holds 100% of Castrol Limited. Castrol Limited is the promoter of Castrol India and holds 50.45 crore equity shares in the Indian company, representing 51% of its total equity share capital.

As a result, Motion JVCo has indirectly acquired sole control of Castrol Limited and Castrol India, including the voting rights attached to Castrol Limited's 51% shareholding in the Indian lubricant manufacturer.

Separately, as part of the transaction, Motion JVCo issued and allotted equity shares representing 35% of its share capital to BP Motion Holdings Limited, an indirect wholly owned subsidiary of bp. This gives bp a non-controlling interest in Motion JVCo following the completion of the acquisition.

The transaction marks the transfer of indirect control of Castrol India from bp to Stonepeak, while bp retains a minority interest in the acquiring entity.