Brookfield proposes 100% purchase of Teekay Offshore

5/21/2019

Teekay Offshore received a purchase proposal from Brookfield. The goal of the Canadian fund manager – who already owns 60% of Teekay Offshore – is to acquire the remaining shares of the company for $ 1.05 in cash each. The platform operator said it would form a committee (without representatives of Brookfield) to evaluate the offer.

Teekay’s fleet in Brazil includes the Pioneer Libra FPSOs (in partnership with Ocyan), which operates in the Libra field; Petrojarl I, which produces in the Atlanta field; Piranema Spirit, located in the field of Piranema and Petrojarl City of Itajaí (in partnership with Ocyan), in the field of Baúna. All, with the exception of Petrojarl I, chartered by Enauta, are in contract with Petrobras.

Teekay also owns Petrojarl Cidade de Rio das Ostras, whose charter contract with Petrobras was not renewed after the completion of the early production system of the Tartaruga Verde field in the Santos Basin. The company has offices in Rio de January (RJ), in Macaé (RJ) and Aracaju (SE).

In 2017 Brookfield already acquired 90% of the New Southeast Carrier (pipeline network) for $ 5.19 billion from Petrobras. In Brazil, the group also has a concession of nine highways (Arteris) and participation in VLI, an integrated logistics solutions company, besides being the largest commercial real estate investor.

Source: Brazil Energy Magazine

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