Processing timeline
22
days
Filed
21 May 2026
Decision Due
6 July 2026
Est decision date: 17 June 2026. Based on 25 decided Industrial Manufacturing notifications.
Acquirer(s)
Motion JVCo Limited Company Identifier Number - 163042, BP Motion Holdings Limited UKCRN - 16910312, CPP Investment Board Private Holdings (6) Inc CBN - 764228300
Target(s) or Vendor(s)
Castrol Group Holdings Limited UKCRN - SC005098, Stonepeak Motion PoolingCo Limited CBN - 764228300
Other parties
BP p.l.c UKCRN - 00102498, Stonepeak Partners LP Company Identifier Number: 4958360 - Delaware
Stonepeak Partners LP, via Motion JVCo Limited, is acquiring 100% of Castrol Group Holdings Limited, BP p.l.c.'s global lubricants business. BP will reinvest for a 35% stake in Motion JVCo Limited, with Stonepeak holding 65%. Canada Pension Plan Investment Board is also investing in the lubricants and related fluids sector.
Castrol Group Holdings Limited ( Castrol ) is BP’s global lubricants business, headquartered in the United Kingdom. Castrol is active globally in the development, production and sale of lubricants and related fluids for various industries including automotive, energy, industrial and marine. BP p.l.c. ( BP ) is a global integrated energy group with operations in Europe, North and South America, Australasia, Asia and Africa. Stonepeak Partners LP (together with its affiliates, Stonepeak ) is a global investment firm specialising in infrastructure and real estate assets. The Acquisition comprises: the acquisition of 100% of the shares in Castrol by Stonepeak from BP, through Motion JVCo Limited ( Motion JVCo ), a special purpose vehicle wholly owned by a company which is indirectly owned by investment funds advised and/or managed by Stonepeak, the reinvestment by BP, Castrol’s current owner, in Castrol by acquiring 35% of the shares in Motion JVCo, through a wholly owned subsidiary. Stonepeak will hold the remaining 65% of Motion JVCo, and the indirect investment by Canada Pension Plan Investment Board ( CPPIB ) in Motion JVCo, through its wholly owned subsidiary CPP Investment Board Private Holdings (6) Inc, via investment in another Stonepeak entity.
The period for providing submissions or information in response to the ACCC's Phase 1 questionnaire has concluded.