DP World Acquires 100% Stake in Imperial Logistics
Imperial Logistics Limited (‘Imperial’) and DP World Logistics FZE (‘DP World’) have announced that all conditions precedent regarding DP World’s offer to acquire a 100% stake in Imperial, including regulatory approvals, have been fulfilled. The transaction is now unconditional and will be implemented on 14 March 2022.
Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World, said: “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 urbanisation and rising middle classes.
"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.”
Imperial’s Group CEO, Mohammed Akoojee said: “We are excited about concluding this transaction, which will be value-enhancing for our people, clients and principals, for our service offering across the markets we serve, and for our other key stakeholders."
“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.”
DP World and its subsidiaries employ over 71,000 people across its worldwide operations.
The acquisition is expected to also add significant strategic value to DP World given Imperial’s attractive footprint and strong market access and logistics solutions capability.
Imperial’s business strongly complements DP World’s existing footprint in Africa and Europe and will allow DP World to deliver a fully integrated end-to-end solution across a wider market.
As a consequence of this transaction, the Delisting of the Imperial’s Ordinary Shares from the Main Board of the securities exchange operated by the JSE will be implemented on 15 March 2022.