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Teekay LNG update on merger with Stonepeak

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LNG Industry,


Teekay LNG Partners L.P. has announced that at a special meeting of common unitholders of the Partnership held on 1 December 2021, its common unitholders voted to approve the proposed acquisition by merger of Teekay LNG by Stonepeak Limestone Holdings LP (formerly known as Stonepeak Infrastructure Fund IV Cayman (AIV III) LP) (Stonepeak).

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

Upon closing of the merger, Teekay LNG’s common unitholders will receive US$17.00 per common unit in cash. The merger is currently anticipated to close in mid-January 2022.

About Teekay LNG

Teekay LNG is one of the world’s largest independent owners and operators of LNG carriers, providing LNG and LPG services primarily under long-term, fee-based charter contracts through its interests in 47 LNG carriers, 21 mid-size LPG carriers, and seven multi-gas carriers. Teekay LNG’s ownership interests in these vessels range from 20 - 100%. In addition, Teekay LNG owns a 30% interest in an LNG regasification terminal. Teekay LNG is a publicly traded master limited partnership formed by Teekay Corporation as part of its strategy to expand its operations in the LNG and LPG shipping sectors.

Read the article online at: https://www.lngindustry.com/liquid-natural-gas/06122021/teekay-lng-update-on-merger-with-stonepeak/

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