Teekay, Marubeni Sink $1.4B Into LNG Carriers

Law360, New York (October 12, 2011, 6:03 PM EDT) -- A joint venture between transport service provider Teekay LNG Partners and trading company Marubeni Corp. said Wednesday it will invest $1.4 billion in eight liquefied natural gas carriers from Danish shipping group A.P. Moller-Maersk to broaden the partnership's customer base.

The companies' joint venture will take full ownership of six of the carriers and a 26 percent stake in two more, according to a statement. Teekay LNG and Marubeni said they will finance the deal through loan facilities worth $1.12 billion, as well as $280 million...
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