(MENAFN) Oman's Renaissance Services has agreed to sell its oilfield maintenance services unit Topaz Oil and Gas to UK's Interserve for USD46 million, Arabian Business reported.
The British support services and construction group bought the UAE-based business to expand its growth in the Middle East, the company said adding that it has previously made acquisitions in Oman and Qatar.
From his side, Stephen Thomas, CEO of Renaissance Services, said the sale would allow the company to focus on its core businesses.
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