Wednesday, December 8 2021 Sign In   |    Register

News Quick Search



Front Page
Power News
Gas News
Today's News
Yesterday's News
Week of Dec 06
Week of Nov 29
Week of Nov 22
Week of Nov 15
Week of Nov 08
By Topic
By News Partner
News Customization


Pro Plus(+)

Add on products to your professional subscription.
  • Energy Archive News

    Home > News > Gas News > News Article

    Share by Email E-mail Printer Friendly Print

    Stonepeak to acquire LNG carrier operator Teekay LNG for $6.2 bn.

    October 8, 2021 - NS Energy


      Stonepeak, an Alternative investment company, has decided to buy Teekay LNG Partners, a Bermuda-based operator and owner of liquefied natural gas (LNG) carriers, in an all-cash transaction worth $6.2 bn. The consideration involves proportionate and consolidated joint venture net debt aside from $1.5 bn in common unit equity value. Through its carriers, Teekay LNG offers liquefied petroleum gas (LPG) and LNG services primarily under long-term, fee-based charter deals. The firm has interests in 47 LNG carriers, seven multi-gas carriers, and 21 mid-size LPG carriers. Its ownership stakes in the vessels range 20-100%. Moreover, it has a 30% stake in an LNG regasification terminal. Teekay LNG is a publicly traded master limited collaboration formed by Bermuda-based shipping group Teekay as part of its move to expand its operations in the LPG and LNG shipping industries. After the closing of the transaction, its common units will be delisted from the New York Stock Exchange (NYSE). Under the deal, Stonepeak will offer a $17/share cost to purchase the entire publicly listed LPG and LNG shipping company. In line with this, investment vehicles handled by Stonepeak will acquire almost 36 M shares held by Teekay and the latter's ownership in Teekay LNG's general ally, Teekay GP. This involves an economic ownership interest equivalent to roughly 1.6 M Teekay LNG shares. At present, Teekay has a stake of around 41% in the LNG carrier owner. It has reached a voting and support deal to vote in favour of the transaction with Stonepeak. The closing of the agreement is subject to approval of Teekay LNG's common unitholders and selected customary conditions, and would happen by end-2021. Original Source: NS Energy,


    Other Articles - International


       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2021 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.