Teekay selling remaining stake in Teekay Offshore to Brookfield

Oil and gas shipping firm Teekay has agreed to sell all of its remaining interest in Teekay Offshore, a provider of marine services and solutions to the offshore oil industry, to Brookfield for $100 million.

To remind, Canada’s Brookfield had in 2017 completed the acquisition a 60 percent stake in Teekay Offshore Partners with the total investment at around $750 million.

Teekay on Tuesday said it had agreed to sell to Brookfield, all of its remaining interests in Teekay Offshore Partners, “which includes the Company’s 49% general partner interest, common units, warrants, and an outstanding $25 million loan from the Company to Teekay Offshore, for total proceeds of $100 million in cash.”

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