Standard Chartered Private Equity (SCPE) announced today (
The proceeds will be used to fund Topaz's expansion plan, which includes the acquisition of vessels for existing business and geographical expansion. SCPE will be granted a board seat and will provide strategic insight towards delivering on Topaz's global business and capital market ambitions.
This is the first investment in the Mena energy sector for SCPE, the first private equity transaction in the
"Topaz's high quality management team, committed shareholder base and independent governance are admired by many in the region. We look forward to working with our partners at Topaz and helping the company achieve its long-term strategic objectives." Labib will be joining the Topaz Board on behalf of SCPE, a statement said.
"This partnership between Renaissance and one of the leading emerging markets private equity houses speaks volumes in terms of the value of Topaz and its tremendous potential. The diversification of our sources of capital puts Topaz firmly on the path to eventual independence as a world-class OSV business, as envisaged by
Topaz is headquartered in the
SCPE is the private equity arm of
Hispanic #1 Breaking News for Entrepreneurs, Professionals and Small Business Owners - HispanicBusiness.com
OCTOBER 30, 2014
|Customer Service||Policy||Advertise||Site Tools|
|HispanicBusiness Services||Editorial Guidelines||Ad Specifications||Magazine Archive|
|List Rental Agreement||About Us||Media Kits||Post Your Event|
|HireDiversity Job Search||Editorial Calendar||Research|
© 2014 HispanicBusiness Inc. All Rights Reserved.