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Stanford-Marine

Stanford Marine postpones London IPO

: Sunday, July 06 - 2014 @ 04:46

Stanford Marine Group, an operator of offshore supply vessels for oil and gas firm, has postponed a planned initial public offering in London, as majority owner Abraaj Group courts potential buyers for the Dubai-based business, Bloomberg has reported, citing two people with knowledge of the matter. The firm may now sell shares in the first half of 2015 instead of this year and won’t IPO if it finds a buyer earlier, the people said. Abraaj, the largest buyout firm in the Middle East, may seek a market value of about $300m for the company, the people said.

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Sunday, July 6- 2014 @ 4:46 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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