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DP World Acquires Topaz in USD 1.1 Bn Deal
Dubai-based global port operator DP World has ventured into the energy segment with the acquisition of Topaz Energy and Marine Limited. The company acquired Topaz from Renaissance Services SAOG and Standard Chartered Private Equity / Affirma Capital for an enterprise value of USD 1,079 million. The provider of critical marine logistics and solutions to the global energy industry operates a fleet of 117 vessels, predominantly in the Caspian Sea, MENA, and West Africa regions. Topaz had a contract backlog of USD 1.6 billion as of March 31, 2019, which far exceeds industry benchmarks, according to DP World.
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