Teekay Offshore changes name in support of new vision for sustainable future
- Business & Finance
Marine energy transportation, storage & production company Teekay Offshore Partners has changed its name to Altera Infrastructure as part of its new vision for a sustainable future.
The partnership announced on Tuesday that the group of entities comprising of the partnership’s affiliates and subsidiaries is rebranding to Altera Infrastructure effective March 24, 2020.
Effective March 24, 2020, the partnership’s preferred units, which previously traded on the New York Stock Exchange (NYSE) under the ticker symbols “TOO PR A”, “TOO PR B” and “TOO PR E”, respectively, now trade on NYSE under the new ticker symbols “ALIN PR A”, “ALIN PR B” and “ALIN PR E”.
With the new brand, the group also presents a new vision and visual identity, Teekay explained.
Ingvild Saether, President & Chief Executive Officer, Altera Infrastructure Group Ltd., said: “In support of our new vision to lead the industry to a sustainable future, we are establishing a global energy infrastructure services business that will create long-term value for its stakeholders.
“Upholding our uncompromised commitment to operational excellence and safety, we will be relentless in our pursuit of opportunities that lead to strong results and lower emissions and we stand firm to these principles through the current period of market volatility. There will be a transition in our part of the industry, and we are committed to be at the forefront.”
OSE Ticker code changes
At the same time, Teekay Shuttle Tankers L.L.C., a subsidiary of the partnership, announced that, in addition to changing its name to Altera Shuttle Tankers L.L.C. effective March 24, 2020, its two bonds which currently trade on the Oslo Stock Exchange (OSE) under the ticker symbols “TST01” and “TST02 G” will, effective March 25, 2020, trade on OSE under the new ticker symbols “AST01” and “AST02 G” respectively.