Brookfield's PE group proposes to take Teekay Offshore private
The private equity group of Brookfield Asset Management has made a non-binding proposal to buy the publicly held common units it does not already own of Teekay Offshore Partners LP (NYSE: TOO), a Hamilton, Bermuda-based midstream services provider to the offshore oil industry. Brookfield offered to pay US$1.05 in cash per unit. In 2017, Brookfield acquired 60 percent of Teekay Offshore from Teekay Corp (NYSE: TK), a Vancouver-based marine energy transportation, storage and production business, for US$750 million. It also holds 51 percent of Teekay Offshore's general partner. Last month, Teekay Corp agreed to sell its general partner stake and related interests to Brookfield for US$100 million.
21 May 2019•2 mins read
