July 27, 2017 / 3:56 AM / in 5 months

Canadian asset manager Brookfield to buy 60 percent stake in Teekay Offshore

(Reuters) - Asset manager Brookfield Business Partners said on Wednesday it would buy 60 percent of Teekay Offshore Partners, a subsidiary of marine transportation provider Teekay Corp, for about $750 million.

Brookfield said it would invest $610 million to buy the stake in Teekay Offshore and will also acquire a $200 million loan given by Teekay Corp to Teekay Offshore.

Teekay Corp in a separate statement said, following the transaction, it would own 14 percent of Teekay Offshore.

Reporting by Ishita Palli; Editing by Sunil Nair

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below