DP World to acquire Topaz Energy and Marine for $1.1bn.

DP World, a global port operator, agreed to acquire Topaz Energy and Marine, a international provider of critical marine logistics and solutions to the global energy industry, from Renaissance Services SAOG, Standard Chartered Private Equity and Affirma Capital for $1.1bn. "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, which maintains over 300 vessels globally," Sultan Ahmed Bin Sulayem, DP World Chairman and CEO.