Equity fund Brookfield takes control of Teekay Offshore

Teekay Corporation has entered a strategic partnership with investment firm Brookfield, which will inject hundreds of million of dollars in Teekay Offshore. Brookfield will thus own 60 percent of the offshore unit.

by DANIEL LOGAN

Canadian shipping and offshore group Teekay Corporation has formed a new large-scale strategic partnership with equity New York-listed firm Brookfield, which with a huge cash investment becomes a controlling shareholder in Teekay Offshore.

Already a subscriber?Log in here

Read the whole article

Get access for 7 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

With your free trial you get:

Access all locked articles

Receive our daily newsletters

Access our app

Get full access for you and your coworkers

Start a free company trial today

Morgan Stanley: Teekay's financial balance is strained
For subscribers
Teekay CEO wants to restore the spirit of the founder
For subscribers
Shipping and offshore's new financiers come from China
For subscribers

Sign up for our newsletter

Stay ahead of development by receiving our newsletter on the latest sector knowledge.

Newsletter terms

Front page now

Suppliers

Gard acquires Alm. Brand's energy and marine activities

The Norwegian insurance company is paying USD 231m for the acquisition.

Carsten Rehder orders four project cargo ships at Indian shipyard

Shipping director leaves Deutsche Bank after 16 years

For subscribers

Container

Liner companies pay soaring sums for charter deals

For subscribers

Halvor Sveen is chief executive of Oslo-based shipping bank Maritime & Merchant. | Foto: Marine Money/Oscar May

Suppliers

Maritime & Merchant notes fierce competition in loans for shipping

For subscribers

The penal code provision on trespassing is used when someone enters private property without permission. | Foto: Jens Dresling/Ritzau Scanpix

Container

Multiple arrests as protestors block entrance to Maersk HQ

For subscribers

Offshore

Maersk Supply Service aims to quadruple profits

For subscribers

Chief executibe of Wallenius Wilhlemsen Lasse Kristoffersen, and chief executive of Höegh Autoliners Andreas Enger. | Foto: Wallenius Wilhelmsen and Javad Parsa

Carriers

Norwegian car carriers bag multi-year contracts

For subscribers

The logistics giant expects air freight demand to remain solid through the summer. | Foto: Jan Woitas/AP/Ritzau Scanpix

Packed container ships trigger surge in air freight demand

Global demand for air freight has increased by 14% since last year, according to DHL Global Forwarding.

For subscribers

Record influx of container ships this year will not cause trouble until 2025

The number of container ships is growing at record speed, but will not cause serious overcapacity until 2025, according to Bimco.

For subscribers

Gilbert Walter is new chairman of shipbroker BRS. | Foto: BRS

Shipbroker BRS appoints Gilbert Walter as chairman

While Francois Cadiou steps down from the role he has held for four years, he remains a newbuilding broker in Paris for the company

For subscribers

Spot prices for container freight continue to rise

This marks the 12th consecutive week that spot prices for containerized freight are increasing.

Foto: Hannibal Hanschke/Reuters/Ritzau Scanpix

IMO's fossil fuel ban in the Arctic faces criticism

On July 1, the use and transportation of heavy bunker oil by ships in the Arctic will be banned. A climate organization now accuses the ban of being full of loopholes.

For subscribers