July 1, 2019 / 5:21 AM / 17 days ago

DP World buys Topaz Energy from StanChart and Renaissance for $1 billion

LONDON (Reuters) - Port operator DP World Plc DPW.DI will buy Topaz Energy and Marine Limited for $1 billion from Standard Chartered (STAN.L) and Renaissance Services, DP World said on Monday.

Topaz is a provider of marine logistics to the global energy industry. The deal is the latest in Asia-focused lender StanChart’s efforts to sell its private equity business as part of a broader shift away from direct investing.

Reporting By Lawrence White; Editing by Susan Fenton

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