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KNOT Offshore Partners completes acquisition of Dan Sabia


Published Jun 17, 2015
KNOT Offshore Partners LP-2

KNOT Offshore Partners LP has completed its acquisition of all the ownership interests in the company that owns and operates the shuttle tanker Dan Sabia. The purchase price was $103.0 million, net of $64.5 million of outstanding indebtedness related to the vessel, subject to post-closing adjustments.

The cash portion of the purchase price was financed with proceeds from the Partnership's public offering of 5,000,000 common units which closed on June 2, 2015.

The Dan Sabia is operating in Brazilian waters under bareboat charter with Petrobras Transporte S.A. The Dan Sabia Charter commenced upon delivery of the vessel in the first quarter of 2012 and will terminate in the first quarter of 2024.

Tags: KNOT Offshore Partners LP




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