PORTLAND, Ore. (October 2, 2017) - Perkins Coie represented Teekay Corporation (Teekay) (NYSE:TK), a leader in the oil and gas marine midstream space, in its comprehensive strategic transaction with affiliates of Brookfield Business Partners L.P. (NYSE:BBU) (TSX: BBU.UN) (Brookfield) relating to Teekay Offshore Partners L.P. (the Partnership) (NYSE:TOO), an international provider of marine transportation, oil production, storage and other offshore services to the oil industry. Brookfield, a business services and industrial company focused on owning and operating high-quality businesses, invested $610 million in limited partnership units and warrants of the Partnership and purchased from Teekay a partial ownership interest in the Partnership’s general partner. Teekay invested an additional $30 million in units and warrants of the Partnership and entered into various transactions with the Partnership and Brookfield.

Led by Portland partners David Matheson and Gina Eiben, the Perkins Coie team included Portland partner Jeff Bock; Portland associates Joe Bailey, Ann McQuesten and Michael Stout; Seattle partners Jim Gradel and Carl Crow; Seattle senior attorney Neal Hudders; Chicago partner Marcelo Halpern and Washington, D.C. partner Jesse Kanach.

Please click here to read the Teekay press release on the close of the transaction and please click here for the earlier Teekay press release noting details of the transaction.

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