Teekay Corporation Announces Sale of 13 Vessels to Teekay for $455M

Teekay Corporation

announced today that it has reached an agreement to sell to its publicly-traded subsidiary, Teekay Tankers Ltd.

, 13 of the Company's 17 directly-owned conventional tankers and related time-charter contracts, debt facilities and other assets and rights, for an aggregate purchase price of approximately $455 million.