Teekay Offshore is set to become Altera Infrastructure as Brookfield Business Partners completes its controversial takeover of the New York-listed company.
"This marks a new chapter for us. We are establishing a global energy infrastructure services company that will create long term value for its stakeholders," chief executive Ingvild Saether said.
Toronto-based private equity firm Brookfield first took a position in Teekay Offshore in July 2017, recapitalizing the company in exchange for a 60% stake.
