CPPIB, Stonepeak to Acquire 26% in Castrol India

Canada Pension Plan Investment Board (CPPIB) and Stonepeak, a US private equity firm, are planning to buy a big part of Castrol India.

They want to buy 26% of the company by offering to buy shares from the public at a price of Rs 194.04 per share.

This is a bit more than the current share price.

BP, the parent company, recently sold a larger part of Castrol to Stonepeak for a lot of money.

BP is selling parts of its business to make more money and focus on other things.

If this deal goes through, the new owners will have a big part of Castrol India, and BP will keep a smaller part to still be involved.