DP World buys Topaz Energy for $1 bln

Port operator DP World Plc will buy Topaz Energy and Marine Limited for $1 billion from Standard Chartered 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