M&As this week: Brookfield Business Partners, Wilhelmsen
Brookfield Business Partners has completed the $750m acquisition of a 60% stake in Teekay Offshore Partners.
The target company offers marine transportation, oil production and storage services to the offshore oil industry. It owns and operates a fleet of 62 offshore vessels.
The acquisition is intended to strengthen Brookfield Business Partners' association with global exploration and production companies.
Wilhelmsen has completed the acquisition of a 32% stake in NorSea Group for $70m. The transaction has been ratified by the Norwegian Competition Authorities.
The partners in NorSea Group include Wilhelmsen (72%), Eidesvik Eiendomsinvest (12%), Simon Møkster Eiendom (12%) and the management of NorSea Group (4%), following the acquisition.
NorSea Group offers supply bases, integrated logistics solutions, and marine and engineering services to the offshore oil and gas industry.