Canada’s Seapeak is boosting its gas shipping fleet through a $700m takeover of Denmark’s Evergas.

The former Teekay LNG, now owned by Stonepeak, will acquire the two companies comprising the operator — Greenship Gas Trust and Greenship Gas Manager — from France’s Jaccar Holdings in an all-cash deal.

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Seapeak was one of three buyers in the running for the fleet of two VLECs and eight multigas/LNG carriers.