To the Well Known Publics, Go the Spoils Teekay LNG Partners L.P. (NYSE: TGP) Sells 1.7 million common units Citi Advises Investor

A sale of such pre-registered shares is frequently a case whereby a large institution approaches a company looking to buy in. They could be looking to expand a position in a well performing security they already know and like or they could be the sort of long term focused investor every company dreams of having on board, who when they come knocking, it is good to be able to oblige. It is just another indication that size and reputation matter, oh and being prepared. Teekay is selling these common units following a registration statement that was previously filed and declared effective by the Securities and Exchange Commission. Teekay LNG Partners announced intentions July 15, 2010 to sell approximately 1.7 million common units to an institutional investor for net proceeds of approximately $51 million. Teekay intends to use its profits from the transaction to potentially fund newbuilding deliveries and/or purchase vessels in the future. Citi was the sole advisor to the private investor on the 1.7mm ($51mm) common unit private placement.

This is only an excerpt of To the Well Known Publics, Go the Spoils Teekay LNG Partners L.P. (NYSE: TGP) Sells 1.7 million common units Citi Advises Investor

Content is restricted to subscribers. To continue reading please Log-In or view our subscription options.