Stanford Marine hires banks for London share sale - sources


DUBAI, Oct 30 (Reuters) - Stanford Marine Group, a unit ofemerging markets-focused private equity firm Abraaj Group, hashired banks to help arrange a stock market listing in London.

Deutsche Bank and Goldman Sachs Inc havebeen picked to arrange the listing of the oil and gas servicesfirm, scheduled for the first quarter of 2014, three bankingsources said, speaking on condition of anonymity as the matterhas not been made public.

Abraaj, whose investment portfolio spans the Middle East,Africa and Asia, owns 51 percent of Stanford Marine, with theremaining stake held by Abu Dhabi-based investment firm WahaCapital.

Stanford Marine, Abraaj and Goldman Sachs declined tocomment on the IPO plans. Deutsche Bank and Waha Capital werenot immediately available for comment. The sources did notdisclose the amount of money the company was looking to raisefrom the offering.

View Comments (0)