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Shipping M&A image Shipping M&A » By The Online Investor Staff, updated Sun., Apr. 11, 8:29 PM Recent mergers and acquisitions in the Shipping M&A category.

Slide #6. KNOT Offshore Partners LP Carmen Knutsen

Acquirer: KNOT Offshore Partners LP (NYSE:KNOP)
Acquiree: Carmen Knutsen
Details: KNOT Offshore Partners LP (NYSE:KNOP) (the "Partnership") announced today that its wholly owned subsidiary, KNOT Shuttle Tankers AS ("KST"), had entered into a share purchase agreement (the "Share Purchase Agreement") to acquire Knutsen Shuttle Tankers 13 AS ("Knutsen 13"), the company that owns the shuttle tanker Carmen Knutsen, from Knutsen NYK Offshore Tankers AS ("KNOT") for a purchase price of $145.0 million less approximately $89.1 million of existing bank debt (the "Carmen Knutsen Loan"), subject to certain post-closing adjustments. The acquisition is expected to close on or before August 1, 2013, subject to customary closing conditions.

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.

Open the KNOP Page at The Online Investor »

Company Name: 
KNOT Offshore Partners LP
Stock buyback: 
KNOP buyback
Website: 
www.knotoffshorepartners.com
Sector: 
Oil & Gas Equipment & Services
 

Open the KNOP Page at The Online Investor (in a new window) »

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Strong Buy (4.00 out of 4)
100th percentile
(ranked higher than approx. 100% of all stocks covered)

Analysts' Target Price:
KNOP Stock Forecast

Based on Zacks ABR data;
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