VALUING SKAUGEN’S “LIGHTER” Side

As we are going to press, I.M Skaugen and Teekay Shipping announced their intention to create a joint venture with Skaugen’s lightering business, Skaugen Petro Trans (SPT). Although the deal is still subject to due dilly, the boards of both companies have agreed to an MOU and hope to close by October 1, 2003. As we understand it, Teekay will buy 50% of SPT for a combination of cash at

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