This transaction is currently being reviewed by Teekay Offshore’s Conflicts Committee. This is another example of a drop down transaction, which supports the growth of our daughter companies and which also leads to enhanced net asset value for the Teekay Parent level as our MLP daughter companies grow their GP and LP cash flows. All three of our publicly traded daughter entities were busy this past quarter integrating acquisitions and negotiating charter contracts that will enhance the stability of their future cash flows.In the next few weeks, we will take over technical management of the final vessel of the six LNG carriers acquired by Teekay LNG in February 2012 through its joint venture with Marubeni Corporation and thereby complete the integration of this purchase.
Teekay Corporation's CEO Discusses Q2 2012 Results - Earnings Call Transcript
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