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Brookfield closes majority stake buy in Teekay Offshore

Brookfield Business Partners has completed the acquisition of a 60 percent stake in Teekay Offshore Partners, a provider of marine services and solutions to the offshore oil industry.

To remind, Brookfield entered into the initial deal with Teekay in late July. At the time, it was said that the total investment as part of the Teekay Offshore deal is expected to be around $750 million which will be funded from Brookfield’s existing liquidity.

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