Topaz's Singapore deal sees hurdles

Dubai-headquartered Topaz Energy and Marine may not go ahead with its plan to acquire a Singapore-based offshore marine services company, Emirates Business has learned.

"It's not yet confirmed whether we will go with the deal but the signs are not positive right now," said Fazel A Fazelbhoy, Chief Executive Officer, Topaz.

He said Topaz and the South East Asian company are working on a resolution but if a consensus is not reached they will have to cancel the deal.