Teekay Offshore Hires Advisors for Brookfield Offer

Teekay vesselImage Courtesy: Teekay

Teekay Offshore Partners has hired an independent legal counsel and a financial advisor to evaluate the recent Brookfield Business Partners’ offer.

Namely, the company’s Conflicts Committee formally appointed Potter Anderson & Corroon and Evercore Group to support the evaluation process.

Under the unsolicited non-binding proposal, asset management company Brookfield aims to acquire all of the issued and outstanding publicly held common units in Teekay Offshore Partners that the company does not already own.

The proposed transaction is subject to a number of contingencies, including the approval of the Conflicts Committee and the satisfaction of any conditions set forth in any definitive agreement concerning the transaction.

As earlier informed, Teekay would sell its 49% general partner interest, common units, warrants, and an outstanding USD 25 million loan toward Teekay Offshore to Brookfield for total proceeds of USD 100 million in cash.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Mar 2020 >>
MTWTFSS
24 25 26 27 28 29 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Seawork 2020

Seawork is Europe’s leading commercial marine and workboat exhibition, providing businesses the opportunity…

read more >

Belgian Offshore Days 2020

During this event, a conference will be held with focus on “Increasing value by data driven innovation…

read more >

World Future Ports Summit 2020

This event will bring together ports and maritime shipping professionals from global leading companies and authorities to discuss recent digital technologies…

read more >

Europort Romania

Europort Romania is the premier maritime networking event of the Black Sea and will connect maritime technology and service suppliers with high level professionals from Romania and surrounding shipbuilding markets.

More info

read more >