Teekay Completes Bona Shipholding Acquisition

Monday, June 14, 1999

Teekay Shipping Corp. has completed its cash and stock acquisition of Bona Shipholding Ltd. Under the deal, Bona’s shares were converted into a right to receive either a cash payment of $7.00 for each Bona share or 0.485 of a Teekay share for each Bona share.

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