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Slide #5. KNOT Offshore Partners LP — Carmen Knutsen
KNOT Offshore Partners LP (NYSE:KNOP)
KNOT Offshore Partners LP (NYSE:KNOP">KNOP) announced today that further to its announcement on July 12, 2013, its wholly owned subsidiary KNOT Shuttle Tankers AS has completed its acquisition of all interests in Knutsen Shuttle Tanker 13 AS that owns and operates the Carmen Knutsen from KNOT Offshore Tankers AS for a purchase price of $145.0 million less approximately $89.1 million in existing bank debt. The purchase price has been settled by way of a cash payment of approximately $45.4 million and with seller financing provided by KNOT in the form of a loan in the amount of approximately $10.5 million.
KNOT Offshore Partners is a limited partnership formed to own, operate and acquire shuttle tankers under long-term charters, which Co. defines as charters of five years or more.
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Strong Buy (4.00 out of 4)