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Open offer signals strategic interest in lubricant major after BP exit
Stonepeak and CPPIB will launch an open offer for Castrol India at a premium, following BP’s global exit that could result in a majority ownership change.
Infrastructure investor and the plan to make an open offer to acquire up to 26% of following their agreement to buy the business from parent . The offer price of ₹194.04 per share represents a 2.5% premium to the previous close. Under Indian takeover rules, crossing the 25% threshold mandates an open offer, potentially lifting Stonepeak’s control to a majority stake. BP’s global deal values Castrol at about $6 billion, with CPPIB investing up to $1.05 billion for an indirect holding.