(Reuters) – Asset manager Brookfield Business Partners said on Wednesday it would buy 60 percent of Teekay Offshore Partners, a subsidiary of marine transportation provider Teekay Corp, for about $750 million.
Brookfield said it would invest $610 million to buy the stake in Teekay Offshore and will also acquire a $200 million loan given by Teekay Corp to Teekay Offshore.
Teekay Corp in a separate statement said, following the transaction, it would own 14 percent of Teekay Offshore.
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