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Slide #48. KNOT Offshore Partners LP — Carmen Knutsen
KNOT Offshore Partners LP (NYSE:KNOP)
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.
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Strong Buy (4.00 out of 4)