Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Renaissance subsidiary Topaz secures $75mn StanChart PE investment  Join our daily free Newsletter

MENAFN - Muscat Daily - 21/08/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Muscat Daily) Renaissance subsidiary Topaz Energy and Marine a leading offshore support vessel company with primary operations in the Caspian Middle East West Africa and subsea operations in the North Sea and Gulf of Mexico on Wednesday announced a US75mn new equity investment in the business from Standard Chartered Private Equity (SCPE) one of the world's leading emerging market private equity investors. 

Under the terms of the investment SCPE will inject US75mn of equity in return for a 9.8 per cent stake in the business. The funds will be deployed in support of Topaz's long-term fleet expansion ambition in its core operational regions and strategic entry to key growth opportunities a press release said on Wednesday. 

'Joining forces with a private equity powerhouse like SCPE will enable Topaz to truly accelerate the realisation of our strategic plan' said Ren Kofod-Olsen CEO of Topaz. '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.'

Samir J Fancy chairman of Topaz and its parent company Renaissance said 'On behalf of the board of directors I'm pleased to welcome SCPE on board. Bringing in institutional funds is a key part of the board's strategic capital markets plan. Topaz has been a target of much investor interest however our choice of partner was logical given the deep multi-decade relationship between Topaz and Standard Chartered Bank.'


 


Muscat Daily




  MENA News Headlines
 Feb 1 2015 - HE Al Mahmoud Meets Croatian Deputy Premier and Interior MinisterQatar News Agency
(MENAFN - QNA) HE the Deputy Prime Minister and Minister of State for Cabinet Affairs Ahmad bin Abdullah Al Mahmoud met Sunday with visiting Croatia's Deputy Prime Minister and Minister of the ...

 Feb 1 2015 - QNA Organizes Training Course on Media Law and CopyrightsQatar News Agency
(MENAFN - QNA) Qatar News Agency will organize Monday a training course entitled "Introduction to Media Law and Copyrights". The training course comes in the framework of a series of courses ...

 Feb 1 2015 - Royal Jordanian Airlines resumes its flights to BaghdadJordan News Agency
(MENAFN - Jordan News Agency) Assistant Director General of Royal Jordanian Airlines (RJ) for Media Affairs and Communications, Basil Kilani, said the Airlines has resumed its flights between Amman ...

 Feb 1 2015 - Jordan heads the EU-Mid meeting in BrusselsJordan News Agency
(MENAFN - Jordan News Agency) Jordan is heading the working group of the European Union - Mid meeting in partnership with the European Union (EU), in Brussels which deals with labor and employment.It ...

 Feb 1 2015 - Jordan condemns Daesh killing of Japanese hostageJordan News Agency
(MENAFN - Jordan News Agency) The government has strongly condemned the killing of Japanese journalist Kenji Goto by the Daesh terrorist group.State Minister for Media Affairs and the government ...

 Feb 1 2015 - Saudi's Acwa wins USD5b solar power project in DubaiMENAFN
(MENAFN) Saudi Arabia's power generation firm Acwa Power, which recently won a solar power project in Dubai, is bidding for 3-4 projects worth more than USD5 billion, reflecting remarkable growth in ...

 Feb 1 2015 - Palestinian Teen Killed by Israeli Fire Near NablusQatar News Agency
(MENAFN - QNA) Israeli forces shot and killed a Palestinian teenager and injured another near Nablus late Saturday, local sources said. The sources said the soldiers killed Ahmad Ibrahim Najjar, ...

 Feb 1 2015 - Israeli Forces Open Fire at Palestinian Farmers in Khan YounisQatar News Agency
(MENAFN - QNA) The Israeli Army opened fire against Palestinian farmers this morning near the border fence in the Gaza Strip, east of Khan Younis. Sources said that the Israeli Occupation Forces ...

 Feb 1 2015 - Ooredoo's net profit up 14.5 percent in 2014MENAFN
(MENAFN) Omani-Qatari Telecomm-unication Company SAOG (Ooredoo) posted a net profit of USD98.18 million for the financial year ending December 31, up 14.5 percent on-year, Oman Observer reported.The ...

 Feb 1 2015 - Bahrain, Sudan to discuss trade tiesMENAFN
(MENAFN) Bahrain Chamber of Commerce and Industry (BCCI) is hosting a meeting with a business delegation from Sudan led by Minister of Investments, Gulf Daily News reported.The delegation comprises ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help