Stonepeak to Acquire Castrol From BP

Paul, Weiss is advising Stonepeak on the 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. The agreement values Castrol at approximately $10.1 billion and is expected to close by the end of 2026, subject to customary regulatory approvals.

The Paul, Weiss team is led by corporate partners Eric Wedel, Matthew Leist and Caroline Epstein, and associate Marco Bagnato, and includes partners Neel Sachdev, Matthew Merkle and Timothy Cruickshank; and tax partner Timothy Lowe, and counsel Jamie Chambers and Samir Kurani.