Press release from the Competition Council regarding the economic concentration project concerning the acquisition by the company “Motion JVCo Limited” of the exclusive control of the global lubricants business of the group “BP p.l.c.” (Castrol), through the acquisition of 100% of the shares and voting rights of the company “Castrol Group Holdings Limited”

In accordance with Article 13 of Law No. 104-12 on freedom of prices and competition and Article 10 of Decree No. 2-14-652 issued for its implementation, as amended and supplemented, the Competition Council makes available to the public the “operation summary” below, containing the information provided by the parties.

This information has been prepared by the notifying parties, who are solely responsible. Any inaccurate or distorted information contained therein does not in any way prejudge the Competition Council’s position on the proposed operation.

The publication of this press release does not attest to the completeness of the file provided for in Article 9 of Decree No. 2-14-652 issued for the implementation of Law No. 104-12 on freedom of prices and competition as amended and supplemented.

Names of the companies and groups involved:

• The acquirer: “Motion JVCo Limited”;
• The target asset: The global lubricants business of the company BP p.l.c. (Castrol).
• The seller: The group “BP p.l.c”.

Nature of the operation:

• Acquisition of exclusive control

Economic sectors concerned:

• Lubricant sales.

Deadline for interested third parties to submit their observations:

• 10 days from the date of publication of this press release, i.e. April 27, 2026.

NON-CONFIDENTIAL SUMMARY PROVIDED BY THE PARTIES

The Competition Council has received notification of a concentration project operation concerning the acquisition by the company “Motion JVCo Limited” of the exclusive control of the global lubricants business of the group “BP p.l.c.” (Castrol), through the acquisition of 100% of the shares and voting rights of the company “Castrol Group Holdings Limited”.

“Motion JVCo Limited” is a company established under Jersey law, registered under number 163042, with its registered office at the 2^nd floor of Sir Walter Raleigh House, 48-50 Esplanade, St Helier, JE2 3QB. “Motion JVCo Limited” is an ad hoc entity currently 100% owned by the company “Stonepeak Motion HoldCo Limited”, an ad hoc entity indirectly wholly owned by investment funds advised and/or managed by subsidiaries of the company “Stonepeak Partners LP” (together with its subsidiaries, “Stonepeak”).

“Stonepeak” is a leading alternative investment operator specializing in infrastructure and real estate assets, with approximately USD 83.6 billion in assets under management. In Morocco, the company “Stonepeak” has limited activities through the portfolio companies it indirectly controls.

“BP p.l.c.” is a global integrated energy group, incorporated under the laws of England and Wales, registered under number 00102498, with its registered office at 1 St James’s Square, London, SW1Y 4PD.

“Castrol Group Holdings Limited” is a company incorporated under Scottish law with registration number SC005098, with its registered office at 1 Wellheads Avenue, Dyce, Aberdeen, AB21 7PB, United Kingdom. This company operates globally in the development, production, and sale of lubricants, greases, coolants, and related fluids used in a wide range of sectors, including automotive, energy, industry, and marine. In Morocco, the activity of this company is limited to lubricant sales.

 

Done in Rabat on April 16, 2026