New York-listed shuttle tanker owner KNOT Offshore Partners (KNOP) has received a buyout proposal from its parent company, Knutsen NYK Offshore Tankers (KNOT), aiming to acquire all publicly held common units and take the New York-listed partnership private. The unsolicited, non-binding offer proposes a cash consideration of $10 per common unit, to be executed through a merger between KNOP and a KNOT subsidiary. KNOP said its conflicts committee, consisting solely of independent directors, will engage financial and legal advisors to evaluate the proposal. The potential deal remains subject to several approvals, including from the KNOP conflicts committee, both companies’ boards of directors, and a majority of KNOP’s unitholders across common, Class B, and preferred units. The proposal also requires standard regulatory and closing conditions, with no assurance that a definitive agreement will be reached. Norway-based KNOT Offshore Partners owns and operates a fleet of around 20 shuttle tankers, primarily serving offshore oil production in Brazil and the North Sea under long-term charters. The company was spun off in 2013 from KNOT, a joint venture by Trygve Seglem’s TS Shipping Invest (TSSI) and Japan’s Nippon Yusen Kaisha (NYK), established in 2010. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1_95_0_1_2'); }); TagsNorway