Stanford Marine hires banks for London share sale - sources
DUBAI Oct 30 (Reuters) - Stanford Marine Group, a unit of emerging markets-focused private equity firm Abraaj Group, has hired banks to help arrange a stock market listing in London.
Deutsche Bank and Goldman Sachs Inc have been picked to arrange the listing of the oil and gas services firm, scheduled for the first quarter of 2014, three banking sources said, speaking on condition of anonymity as the matter has not been made public.
Abraaj, whose investment portfolio spans the Middle East, Africa and Asia, owns 51 percent of Stanford Marine, with the remaining stake held by Abu Dhabi-based investment firm Waha Capital.
Stanford Marine, Abraaj and Goldman Sachs declined to comment on the IPO plans. Deutsche Bank and Waha Capital were not immediately available for comment. The sources did not disclose the amount of money the company was looking to raise from the offering.
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