Teekay Picks Up Sevan Oil Storage Facility For $165M

Law360, New York (November 10, 2011, 12:17 PM EST) -- Teekay Offshore Partners LP has agreed to buy an offshore oil production and storage facility from Sevan Marine ASA for about $165 million, financed in part by private equity firms including Kayne Anderson Capital Advisors LP and Fiduciary Asset Management Inc., the company said Thursday.

Teekay Offshore, a partnership created by oil and gas servicer Teekay Corp., has agreed to buy the Sevan Piranema, a floating production, storage and offloading unit for oil that operates off the coast of Brazil, according to a statement. The Piranema is under...
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