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Teekay Offshore Partners LP acquires ALP Maritime Services B.V

Friday, 21 Feb 2014 09:00am EST 

Teekay Offshore Partners LP:Says it has agreed to acquire ALP Maritime Services B.V. (ALP), a Netherlands-based provider of long-haul ocean towage and offshore installation services to the global offshore oil and gas industry.Says the company and ALP have entered into an agreement with Niigata Shipbuilding & Repair of Japan.Says the agreement is for the construction of four SX-157 Ulstein Design ultra-long distance towing and anchor handling vessel newbuildings, which will be equipped with dynamic positioning capability, for a fully built-up cost of about $260 mln, which includes the cost of acquiring ALP.Says the partnership intends to finance the ALP acquisition and initial newbuilding payments through its existing liquidity and expects to secure long-term debt financing for the vessels prior to their deliveries in 2016.Says the proposed acquisition, which is expected to close during the Q1 2014, has been approved by the Teekay Offshore and ALP boards.Says . Teekay Offshore and ALP were advised on this transaction by ABN AMRO Bank N. V. 

Company Quote

-0.64 -2.39%
19 Dec 2014