Teekay LNG Partners Intends to Acquire 50 Percent Interest in Two LNG Carriers for $70M

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Teekay LNG Partners L.P. (NYSE: TGP) today announced that it has reached an agreement in principle to acquire a 50 percent interest in two liquefied natural gas carriers owned by Belgium-based shipping group Exmar NV for an equity purchase price of approximately $70 million (including approximately $7 million of working capital and other cash assets) plus the assumption of approximately $100 million in pro rata debt secured by these vessels. Exmar will retain a 50 percent ownership interest and continue to operate the two vessels.

27% profit every 20 days?

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