Teekay Offshore to sell remaining public stake to Brookfield's PE group

Teekay Offshore Partners LP (NYSE: TOO), a Hamilton, Bermuda-based midstream services provider to the offshore oil industry, has accepted an offer from the private equity group of Brookfield Asset Management to acquire publicly held common units not already owned by the investor. Brookfield will pay US$1.55 in cash per unit, up from a US$1.05 offer made earlier this year. 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.

DealsCanadaNorth AmericaBriefs