DP World Acquires Topaz in USD 1.1 Bn Deal

DP World London GatewayIllustration; Image Courtesy: DP World London Gateway

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.

For the major port operator, the transaction supports its objective of increasing the company’s presence in the global logistics and marine services industry.

“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,” Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World, said.

“Furthermore, 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.”

Share this article

Follow World Maritime News

In Depth>


<< Sep 2019 >>
26 27 28 29 30 31 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 1 2 3 4 5 6

The Smart Ship Exchange

The Exchange will look at the issues involved with increasing autonomy in shipping with an introduction to the concept…

read more >

3rd MarSat Workshop

The MARSAT project wants to operationalise and standardise EO products and aims to develop…

read more >

Global Sustainable Shipping Forum 2019

The event will provide valuable insights from conference sessions, great networking opportunities and will offer…

read more >

OEE Conference & Exhibition 2019

OEE2019 is organised by Ocean Energy Europe, the industry association representing ocean energy in Europe.

read more >