Stonepeak Acquires Castrol From BP

Paul, Weiss advised Stonepeak on the M&A and financing aspects of its acquisition of a majority controlling interest in Castrol, a global leader in automotive, commercial and industrial lubricants, from BP p.l.c.
 
Under the terms of the transaction, Stonepeak acquired a 65% stake in Castrol, while BP retains a 35% minority share. Canada Pension Plan Investment Board will also invest in support of the transaction as an indirect minority holder.
 
The Paul, Weiss team was led by corporate partners Paul Foote, Eric Wedel, Matthew Leist, Caroline Epstein, Gemma Cullen and Marco Bagnato, and included partners Neel Sachdev, Matthew Merkle, Kerri Durso, Timothy Cruickshank, Uma Sud and Nicolò Ascione; tax partners Robert Killip, Timothy Lowe, Jamie Chambers and Deeksha Rathi, and counsel Samir Kurani; and executive compensation partner Matthew Friestedt and counsel Annie Anderson.