UAE – Imperial Logistics Limited (Imperial) and DP World Logistics (DP World) have announced that all precedent conditions for DP World’s offer to acquire a 100 percent stake in Imperial have been met.
The transaction, which is worth R12.7 billion (US$883 million) will go into effect on March 14, 2022.
The multinational logistics company previously stated that the transaction would strengthen its capabilities along supply chains and accelerate its plan to transform into a logistics solutions provider.
It will also strengthen its presence in Africa, with Imperial Logistics’ operations primarily in Africa and Europe.
Mohammed Akoojee, Imperial’s Group CEO, welcomed the acquisition saying that it will be “value-enhancing” for the company and its stakeholders noting that this deal will enable Imperial “to build on our ‘Gateway to Africa’ strategy and growth ambitions.”
“Combining DP World’s world-class infrastructure, specifically its investment and expertise in ports on the African continent, with Imperial’s logistics and market access platforms will enable us to offer integrated end-to-end solutions along key trade lanes into and out of Africa, also driving greater supply chain efficiencies, and ultimately enhancing value for all stakeholders,” Akoojee said.
DP World and its subsidiaries employ over 71,000 people globally, and its vision is to drive economic growth by creating more efficient supply chains, connecting markets, and driving global trade flow.
It also offers innovative solutions to cargo owners, all while ensuring a positive and sustainable impact on societies and the environment.
DP World is committed to driving sustainable growth by prioritizing practices that benefit the people, communities, and environment in which it operates.
Imperial’s capabilities in market access and logistics and its extensive African and European footprint will complement and enhanced World’s growth aspirations.
Strategic value
Given Imperial’s appealing footprint and strong market access and logistics solutions capability, the acquisition is expected to add significant strategic value to DP World.
Imperial’s business complements DP World’s existing footprint in Africa and Europe, allowing DP World to offer a fully integrated end-to-end solution to a broader market.
“We are excited to conclude our acquisition of Imperial, which has a significant presence in Africa, a market where trade is expected to grow at more than twice GDP driven by population growth, accelerated urbanization and rising middle classes,” commented Sultan Ahmed Bin Sulayem, group chairman and CEO of DP World.
He added that “Imperial’s capabilities in market access and logistics and its extensive African and European footprint will complement and enhance our growth aspirations.”
DP World is a business that also focuses on empowering and employing local people in its countries of operation while delivering sustainable and inclusive growth.
Imperial’s purpose aligns with our approach and we look forward to welcoming Imperial to the DP World family.
DP World noted that as a result of this transaction, the Imperial’s Ordinary Shares will be delisted from the Main Board of the Johannesburg Stock Exchange (JSE) on March 21, 2022.
Imperial’s capabilities in market access and logistics and its extensive African and European footprint will complement and enhanced World’s growth aspirations.
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