Dubai's DP World has expanded its shipping portfolio with a $1.079bn takeover of Middle East offshore support vessel operator Topaz Energy & Marine.
It has bought the company from Oman's Renaissance Services and Standard Chartered Private Equity/Affirma Capital.
Topaz has a "modern and versatile" fleet of 117 vessels, predominantly in the Caspian Sea, Middle East and North Africa, and West Africa regions, DP said on Monday.
