Dubai's Topaz Buys Two Ships

 

Dubai's Topaz Energy and Marine, a unit of Muscat-listed Renaissance Services, has bought two ships from Norwegian boat yard Vard Brattvaag for about $115 million, the Omani parent firm said on Sunday.

The two vessels will be delivered in the second half of 2017, a statement to Muscat's bourse said.

The chief executive of the Dubai-based oil services firm told Reuters in June it was in negotiations to acquire two subsea vessels as Topaz aimed to expand the division in the Atlantic basin over the next two years.

Vard Brattvaag shipyard is part of Singapore-listed Vard Holding, which is ultimately majority-owned by Italy's Fincantieri.

(Reporting by Matt Smith; Editing by David French)