Stonepeak-Castrol deal cleared by Australian watchdog
( June 18, 2026, 05:41 GMT | Official Statement) -- MLex Summary: Stonepeak’s acquisition of BP’s global lubricants business Castrol has been cleared Australia's competition watchdog following a Phase 1 review. The Australian Competition & Consumer Commission on Thursday said the deal is unlikely to harm competition, noting no significant overlaps or supplier relationships between the parties in Australia. The transaction will see US-headquartered Stonepeak acquire 100 percent of Castrol through a new vehicle, with BP retaining a 35 percent stake and Canada Pension Plan Investment Board also investing indirectly.Statement follows. Determination attached. ...
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