Abraaj hires Deutsche Bank, Goldman for early 2014 Stanford Marine IPO


oil rig_lrgGlobal emerging markets private equity giant The Abraaj Group has reportedly hired two investment banks to run a London IPO for oil and gas services business Stanford Marine Group.

Deutsche Bank and Goldman Sachs have been picked to ready the listing for the first quarter of 2013 according to Reuters, which cited three banking sources.

Abraaj currently owns a 51 per cent stake in Stanford, with Waha Capital controlling the rest.

Last week Abraaj joined forces with Danone to acquire Fan Milk International.

Abraaj, which had previously agreed to buy 100 per cent of the company, will own a 51 per cent stake with Danone holding the remaining 49 per cent interest.

Under the agreement, Danone will gradually acquire a controlling stake in Fan Milk.

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