Stonepeak-Castrol deal to be reviewed by Australia's antitrust regulator
( May 25, 2026, 04:37 GMT | Official Statement) -- MLex Summary: Alternative investment company Stonepeak’s proposed acquisition of lubricants business Castrol Group from BP is set to be reviewed by Australia’s antitrust watchdog. In a statement Monday, the Australian Competition & Consumer Commission said Stonepeak will acquire Castrol through a special purpose vehicle, Motion JVCo. As part of the transaction, BP will reinvest in the business and retain a 35 percent stake in Motion JVCo, while Stonepeak will hold the remaining 65 percent. The regulator said the deal will also involve an indirect investment by the Canada Pension Plan Investment Board through another Stonepeak entity. The regulator is seeking views on the proposal until June 1. The deal recently received an unconditional antitrust clearance from China’s State Administration for Market Regulation.Statement follows. Questionnaire is attached....
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