ET. This release contains forward-looking statements (as defined in Section 21E of the Securities Exchange Act of 1934, as amended) which reflect management’s current views with respect to certain future events and performance, including: the expected timing and completion of the transaction with Brookfield and the expected benefits to the Company of such transaction; the Company’s current strategy; and alternatives to address the Company’s upcoming bond maturity. Teekay has consolidated assets of approximately $5.2 billion, comprised of 58 offshore assets, including floating production, storage and offloading units, shuttle tankers, floating storage and offtake units, long-distance towing and offshore installation vessels, and a unit for maintenance and safety.
Houlihan Lokey Capital, Inc. and Potter Anderson & Corroon acted as independent financial and legal advisors to Teekay Offshore’s Conflicts Committee.Teekay and Teekay Offshore plan to host a conference call on Thursday, July 27, 2017 at 1 p.m. (ET) to discuss the transaction.
The members of the Board have unanimously approved the Merger Agreement on the recommendation of the Conflicts Committee. April 30, 2019. According to the merger agreement, the Brookfield Consortium will acquire by merger all of the outstanding publicly …
Teekay provides these services primarily through its directly-owned fleet and its controlling ownership interests in Teekay LNG Partners L.P. (NYSE:TGP), the world’s third largest independent owner and operator of LNG carriers, and in Teekay Tankers Ltd. (NYSE:TNK), one of the world’s largest owners and operators of mid-sized crude tankers. “The proceeds from this transaction allow us to further strengthen Teekay Corporation’s balance sheet and credit profile, while significantly enhancing our near-term financial flexibility and range of options to address our near-term bond maturity.”Teekay is a leading provider of international crude oil and gas marine transportation. You can follow him on Twitter @TomiKilgore. Brookfield and Teekay will invest $610 million and $30 million, respectively, in Teekay Offshore at a price of $2.50 per common unit and receive 65.5 million Teekay Offshore warrants (Warrants) on a pro rata basis. With offices in 14 countries and approximately 8,000 seagoing and shore-based employees, Teekay provides a comprehensive set of marine services to the world’s leading oil and gas companies.Teekay’s common stock trades on the New York Stock Exchange under the symbol “TK”.Teekay Offshore Partners L.P. is an international provider of marine transportation, oil production, storage, long-distance towing and offshore installation and maintenance and safety services to the oil industry, primarily focusing on oil production-related activities of its customers and operating in offshore oil regions of the North Sea, Brazil and the East Coast of Canada.
Teekay (excluding Teekay Offshore) manages and operates total assets under management of approximately $11 billion, comprised of 155 liquefied gas, offshore, and conventional tanker assets.
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