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Teekay acquires LNG unit

Bermuda-based Teekay Corp and the Japanese group Marubeni have bought Danish shipping and oil group AP Moller-Maersk A/S’s liquefied natural gas unit (LNG).The Danish company said that the two buyers will acquire joint ownership interest in eight LNG carriers in a $1.4 billion deal on a cash and debt-free basis.Maersk said on Wednesday that it had decided to sell up since the LNG unit was too small to influence overall industry development and that liquid natural gas was not the group’s core business.Copenhagen-based Maersk said the transaction was subject to regulatory approval and was not expected to have a significant impact on the group’s financial performance.