3 Firms Steer Brookfield's $170M Energy Co. Take-Private

By Elise Hansen (October 1, 2019, 3:59 PM EDT) -- A Brookfield consortium will acquire the outstanding publicly held shares of midstream services provider Teekay Offshore Partners in a roughly $170 million take-private deal steered by Kirkland & Ellis LLP, Potter Anderson & Corroon LLP and Baker Botts LLP, Teekay Offshore said Tuesday.

Brookfield Business Partners LP, along with other Brookfield affiliates and institutional partners, will take on the publicly traded shares of Teekay that it doesn't already own for $1.55 each in cash, Teekay's announcement said.

The deal is one of several in recent years in which general partners have abandoned master limited partnership, or MLP, structures, a type of business...

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