KNOT Offshore Partners LP completed the acquisition of all ownership interests in the company that owns and operates the shuttle tanker Dan Sabia, KNOT said June 15.
Dan Sabia is operating in Brazilian waters under bareboat charter with Petrobras Transporte SA. The charter went into effect when the vessel was delivered in first-quarter 2012, and it will terminate in first-quarter 2024, KNOT said.
The purchase price was $103 million, net of $64.5 million of outstanding debts related to the vessel. The price is subject to post-closing adjustments. Proceeds from KNOT’s public offering of 5 million common units, which closed on June 2, financed the cash portion of the payment.
Aberdeen, Scotland-based KNOT Offshore Partners LP is an MLP that owns, operates and acquires shuttle tankers under long-term charters offshore Brazil and in the North Sea.
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