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OFS - Teekay cashes out stake in FPSO operator Teekay Offshore - May 2019



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Teekay Corp. agreed to sell its stake in Teekay Offshore Partners to Brookfield Business Partners and its institutional partners for $100 million. The sale includes Teekay’s 49% general partner interest, common units, warrants and an outstanding $25 million loan to Teekay Offshore. Teekay Offshore owns $5.3 billion of 60 offshore assets, including FPSO units, shuttle tankers including six newbuilds, floating storage and offtake units, long-distance towing and offshore installation vessels and a unit for maintenance and safety. The transaction is expected to......
 
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