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United Arab Emirates : TOPAZ ENERGY AND MARINE gets equity investment from SCPE

September 3, 2014

Topaz Energy and Marine declared that it has secured a US$75 million equity investment in the business from Standard Chartered Private Equity (SCPE).

SCPE will be responsible for injecting US$75 million of equity in return for a 9.8 per cent stake in the business. The funds will be set up in support of Topaz s long-term fleet expansion goal in its core operational regions and strategic entry to key growth opportunities.

RenÉ Kofod-Olsen, CEO of Topaz stated Joining forces with a private equity powerhouse like SCPE will enable Topaz to truly accelerate the realization of our strategic plan.

We have now enhanced the foundation from which we can deliver our ambition for further geographical diversification and growth through both organic expansion and acquisitions. SCPE is investing because of its firm belief in the Topaz story, the team and our strategy, and we look forward to working together in close partnership, RenÉ Kofod-Olsen further added.

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Source: TendersInfo (India)

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