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Stock Market & Financial Investment News

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April 16, 2012
16:45 EDTTNK, TKTeekay Tankers to acquire fleet of 13 double-hull tankers from Teekay for $455M
Teekay Tankers (TNK) announced that it has reached an agreement to acquire from Teekay Corporation (TK), a fleet of 13 double-hull conventional oil and product tankers and related time-charter contracts, debt facilities and other assets and rights, for an aggregate purchase price of approximately $455M. As part of the transaction, Teekay Tankers and Teekay will enter into a non-competition agreement, which will provide Teekay Tankers with a right of first refusal to participate in any new conventional crude oil tanker and product tanker developed by Teekay for a period of three years from the closing date of this transaction.
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