Shipping containers/photo by Avigator Thailand/Shutterstock.comMagic Circle Duo On Deck For $1BN Dubai Energy Deal
The deal sees shipping ports giant DP World buy oil and gas company Topaz.
July 02, 2019 at 05:27 AM
2 minute read
Linklaters and Clifford Chance are leading on the $1.1 billion sale of oil and gas company Topaz Energy & Marine to Dubai-based port operator DP World.
DP World is acquiring Topaz from joint owners Affirma Capital – Standard Chartered's private equity spinoff – and Oman-based facilities company Renaissance Services.
Linklaters is representing both Topaz and sellers Renaissance, with a team led by Dubai managing partner Scott Campbell.
Clifford Chance, meanwhile, is advising longstanding client DP World on its latest acquisition, according to a person with knowledge of the deal, fielding a team led by Abu Dhabi-based M&A partner Jason Mendens.
Founded in 2005, DP World operates ports and terminals across 40 countries and has for the past 18 months been in acquisitive mode, this year reacquiring British ports and ferries company P&O.
Linklaters advised DP World 14 years ago when it first bought P&O for £3.9 billion, only to sell it some years later.
Clifford Chance notably represented the company as it prepared a dual listing back in 2010 on both the London Stock Exchange and the Dubai International Financial Exchange.
Also headquartered in Dubai, Topaz Energy & Marine provides marine logistics services and solutions to the global energy industry.
Clifford Chance did not immediately respond to requests for comment.
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