Aug. 5, 2015, 10:30 AM
- Teekay Tankers (TNK +1.9%) agrees to acquire a fleet of 12 Suezmax tankers from Principal Maritime Tankers for $662M, a deal TNK says will make it one of the largest owners of Suezmax tankers in the world.
- TNK says the vessels included in the deal are scheduled to be delivered by October 2015 and are expected to operate in the spot tanker market upon or soon after delivery.
- TNK expects the acquisition to be immediately accretive to earnings, free cash flow and net asset value per share.
- TNK says it has received commitments from four of its lenders to provide a new debt facility of ~$400M to be secured by the acquired vessels, and will issue $50M in new common shares to Principal, $30 million to Teekay Corp. (TK +1.4%) and $60M to a group of institutional investors.
Apr. 16, 2012, 7:14 PM
Teekay Corp. provides international crude oil and gas marine transportation services. It also offers offshore oil production, storage and offloading services, primarily under long-term, fixed-rate contracts. The company operates its business through four segments: Shuttle tanker, FSO and... More
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