Teekay LNG expects $6.2 billion Stonepeak deal to close in January

Teekay LNG Partners is expecting the previously announced merger deal with private equity firm Stonepeak Infrastructure Partners to close next month after it secured approval from its shareholders.

In early October, New York-listed Teekay LNG had entered into a merger agreement worth $6.2 billion with an affiliate of Stonepeak. Under the deal, Stonepeak had agreed to acquire 100 percent of Teekay LNG’s common units.

Upon closing of the merger, Teekay LNG’s shareholders would receive $17.00 per common unit in cash.

Teekay LNG said in an update that a special meeting of its common unitholders held on December 1 has voted to approve the proposed acquisition by Stonepeak Limestone Holdings.

In addition, Teekay LNG has received all required customer approvals to complete the merger, it said.

Teekay LNG added it currently anticipates the merger to close in mid-January 2022.

The shipping firm has interests in 47 LNG carriers and is one of the world’s largest operators of such vessels. It also operates 21 mid-size LPG carriers and seven multi-gas carriers.

Most Popular

LNG carrier arrives to load first LNG Canada cargo

The 174,000-cbm GasLog Glasgow has arrived at the LNG Canada jetty in Kitimat to load the first LNG cargo produced at the Shell-led terminal, an LNG Canada spokesperson told LNG Prime on Saturday.

Knutsen, Shell name ninth LNG newbuild

Norwegian shipowner Knutsen and UK-based energy giant Shell have named the ninth and final LNG carrier in a series of 174,000-cbm vessels.

BP seals LNG SPA with Italy’s A2A

UK-based energy giant BP has signed a long-term liquefied natural gas (LNG) supply deal with Italian electricity and gas distributor A2A.

More News Like This

Stonepeak to take 40 percent stake in Woodside’s Louisiana LNG project

Australian LNG player Woodside has signed a binding deal with US private equity firm Stonepeak to sell 40 percent of its Louisiana LNG project.

Seapeak to sell steam LNG carriers

Stonepeak’s Seapeak plans to sell three steam liquefied natural gas (LNG) carriers that were placed in layup in early 2025.

Seapeak buys Navigare’s LNG carrier for $213 million

The LNG carrier in question is the 174,000-cbm dual-fueled, Marvel Swan. Seapeak, previously known as Teekay LNG Partners, said in...

Seapeak seals sale and leaseback deal for one LNG carrier

The shipping company revealed this in its second-quarter results report. According to the report, the LNG carrier in question is...