Transaction Completion
On October 30, 2026, BP p.l.c. ("bp") and Motion JVCo Limited ("Acquirer"), an entity part of Stonepeak Infrastructure Fund V ("Stonepeak"), completed the transactions contemplated under the sale and purchase agreement dated December 23, 2025 (as amended).
Ownership Structure Change
The Acquirer acquired 100% of the equity share capital of Castrol Group Holdings Limited (CGHL), which holds 100% of the equity share capital of Castrol Limited. Castrol Limited is the promoter of Castrol India and holds 50,44,52,416 equity shares of Castrol India constituting 51.00% of the equity share capital.
Control Implications
Pursuant to the transaction, the Acquirer has indirectly acquired sole control of Castrol Limited, and thereby indirectly acquired:
- The right to direct the exercise by Castrol Limited of the voting rights attached to its 50,44,52,416 equity shares in Castrol India (51.00% of total voting rights)
- Sole control over Castrol India
Retained Interest
Simultaneously with the acquisition, the Acquirer issued and allotted to BP Motion Holdings Limited (BPMH), an indirect wholly owned subsidiary of bp, equity shares constituting 35% of the Acquirer's equity share capital. This results in BPMH holding a non-controlling interest in the Acquirer.
Timeline
Company received this information on November 2, 2026 at 12:44 p.m. IST. Disclosure signed digitally by Hemangi Yateen Ghag, Company Secretary & Compliance Officer, on November 2, 2026 at 13:17:14 IST.