<article>DP World Plc is in “very advanced” discussions to acquire Topaz Energy &amp; Marine Plc in what would be the Dubai-based company’s first venture into the oil and gas sector.</article>

DP World Plc is in “very advanced” discussions to acquire Topaz Energy &amp; Marine Plc in what would be the Dubai-based company’s first venture into the oil and gas sector.
The world’s largest port operator also said in a statement that there is no certainty of a transaction.
Sky News reported earlier that a $1.3 billion deal could be announced as early as Monday, without specifying whether the valuation was referring to the equity or enterprise value of the transaction.
DP World has been on an acquisition spree in the past 18 months, buying P&amp;O Ferries and P&amp;O Ferrymasters in Europe and Puertos y Logistica in Chile. It also purchased an additional stake in DP World Australia and invested through its joint ventures in Canada and India.
An acquisition would end the prospect of Topaz listing in London. Its Omani owner, Renaissance Services SAOG, had been exploring an initial public offering for the business as recently as September.
&#8220;We have a capital markets program and that has attracted interest from many other parties,” Topaz Chief Executive Officer Rene Kofod-Olsen said Sunday, adding that the company has been looking at options.
The shares of DP World gained 1.8% in Dubai Sunday, while those of Renaissance rose before being suspended.
Deutsche Bank AG is advising DP World, while Rothschild &amp; Co. is advising Topaz, Sky News reported.
Bloomberg

DP World has been on an acquisition spree in the past 18 months, buying P&O Ferries and P&O Ferrymasters in Europe and Puertos y Logistica in Chile.

Dubai's DP World said to be in advanced talks to buy Topaz Energy

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Dubai's DP World said to be in advanced talks to buy Topaz Energy

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