Brian Chisling~~Matthew Gabbard~~Erica Egenes~~Ryan Bekkerus~~Matthew Einbinder~~Brian Gluck~~Jonathan Goldstein~~Tristan Brown~~Linda Barrett~~Peter Guryan~~Henry Llewellyn~~Michael Isby~~Krista McManus
January 24, 2026
Stonepeak to Acquire Teekay LNG in a $6.2 Billion Transaction

1 min
AI-made summary
- Simpson Thacher is advising Stonepeak in its agreement to acquire Teekay LNG Partners L.P
- Stonepeak-managed investment vehicles will purchase all outstanding common units of Teekay LNG Partners, including about 36 million units owned by Teekay Corporation, and 100% of Teekay Corporation’s interest in Teekay GP L.L.C., for $17 per unit in cash
- The deal values the enterprise at $6.2 billion and is subject to customary regulatory approvals.
Simpson Thacher is representing Stonepeak in their announced agreement and plan of merger to acquire Teekay LNG Partners L.P. Investment vehicles managed by Stonepeak will acquire (a) all the issued and outstanding common units representing limited partner units in Teekay LNG Partners L.P., including approximately 36 million common units owned by Teekay Corporation (NYSE:TK), and (b) 100% of Teekay Corporation’s ownership in Teekay LNG Partners L.P.’s general partner, Teekay GP L.L.C., for $17 per common unit or common unit equivalent in cash, representing an enterprise value of $6.2 billion, including consolidated and proportionate joint venture net debt, and $1.5 billion in common unit equity value. The transaction is subject to customary conditions, including receipt of applicable regulatory approvals.~~Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets.~~The Simpson Thacher team for the transaction included Brian Chisling, Matthew Gabbard, Erica Egenes, Cedric Karaoglan and Eva Du (M&A); Ryan Bekkerus, Matthew Einbinder, Brian Gluck, Zachary Banks, Fredrick Titcomb and David Socol de la Osa (Credit); Jonathan Goldstein and William Smolinski (Tax); Tristan Brown, Linda Barrett and Meredith Brenton (Executive Compensation and Employee Benefits); Peter Guryan, Ross Ferguson, Henry Llewellyn and Luke Cowdell (Antitrust); Michael Isby (Environmental); Krista McManus and Stephanie Brenner (Real Estate); and Genevieve Dorment (Intellectual Property and Privacy).
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Brian Chisling~~Matthew Gabbard~~Erica Egenes~~Ryan Bekkerus~~Matthew Einbinder~~Brian Gluck~~Jonathan Goldstein~~Tristan Brown~~Linda Barrett~~Peter Guryan~~Henry Llewellyn~~Michael Isby~~Krista McManus
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