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DUBAI, Oct 4 (Reuters) - Oman's Renaissance Services
Renaissance will divest the marine engineering and ship building services unit and its subsidiaries, with the deal resulting the Omani firm booking a loss of $5.5 million, it said in a bourse filing.
Renaissance is divesting Topaz Engineering as part of a wider strategy in the company to focus on its core business of offshore support vessels, through Dubai-based oilfield services firm Topaz Energy and Marine, "and developing its contract services business, based in Oman", the statement added.
(Reporting by Hadeel Al Sayegh; Editing by David French) ((Hadeel.AlSayegh@thomsonreuters.com; +971566883310;))
Keywords: TOPAZ M&A/CHALMERS