I.M. Skaugen SE has announced that it has agreed to sell all of its 50% economic interests in the SPT activities being the global ship to ship transfer/lightering business. IMSK will also by this series of transactions acquire the right to over time to purchase two Multigas type gas carriers of 12,000 cbm, built in 2011 and that are currently on a lease to IMSK from Teekay LNG Partners LP, the company said in its press release.
The sale of our economic interest in SPT business will be made against a consideration that will constitute a book gain for IMSK and it will be sold to a subsidiary of Teekay Corporation ("Teekay"). Teekay currently owns the other half of the business in a JV with IMSK.
The Boards of Directors of the companies involved have approved binding term sheets that are subject to standard closing conditions. The transactions are expected to be closed within 31 July 2015.
Further details will be made available after closing of the transaction and by release of 2Q results in August 2015.