Skip to main content

 

 

DP WORLD ACQUIRES TOPAZ ENERGY & MARINE

Thursday, July 4, 2019 

DP World has acquired Topaz Energy and Marine Limited from Renaissance Services SAOG and Standard Chartered Private Equity / Affirma Capital for US $1,079 million.

Topaz, a leading international provider of critical marine logistics and solutions to the global energy industry, operates a modern and versatile fleet of 117 vessels, predominantly in the Caspian Sea, MENA, and West Africa regions.

Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, said: “We are pleased to announce the acquisition of Topaz, further strengthening DP World’s position as a world-leading operator in maritime logistics services. In recent years, we have been investing selectively in the marine logistics sector in companies with high revenue visibility, consistent track record and strong customer relationships, and this acquisition complements the operations of our P&O Maritime Services (POMS), which maintains over 300 vessels globally.

“Much like DP World, Topaz has evolved its business, offering customers a range of logistics solutions and helping the Company outperform the industry. We believe that this innovative approach, together with the increased scale, will allow the combined Topaz and P&O Maritime Services business to drive efficiencies and earnings growth, and we look forward to welcoming the Topaz team into the DP World family.

“This new partnership opens the door for DP World to participate more extensively in new business areas including increasing transit volumes through Azerbaijan under the East-West trade corridor.

This transaction is in line with our strategy to grow our presence in marine logistics and become a solutions provider to end customers.”

Reader Comments (0)

There are currently no comments on this article. Why not be the first and leave your thoughts below.

Leave Your Comment

Please keep your comment on topic, any inappropriate comments may be removed.

Return to index

Web Analytics