Canada’s Brookfield buys majority stake in Teekay Offshore

Brookfield Business Partners, together with its institutional partners, has entered into an agreement to acquire 60 percent of Teekay Offshore Partners, a provider of marine services and solutions to the offshore oil industry.

Brookfield Business Partners describes itself as a business services and industrial company focused on owning and operating high-quality businesses within Brookfield’s private equity group.

It is a part of Brookfield Asset Management, a global alternative asset manager with approximately $250 billion of assets under management.

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