DP World Logistics announced that all conditions precedent regarding DP World’s offer to acquire a 100% stake in Imperial Logistics Limited including regulatory approvals, have been fulfilled. The transaction is now unconditional and will be implemented on 14 March 2022.
“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 who will benefit from DP World’s leading technology, capabilities, global networks, scale and key trade-lane volumes, while enabling us to build on our ‘Gateway to Africa’ strategy and growth ambitions,” says Imperial’s Group CEO, Mohammed Akoojee.
DP World and its subsidiaries employ over 71,000 people across its worldwide operations and its vision is to drive economic growth through creating more efficient supply chains, connecting markets, driving global trade flow and offering innovative solutions to cargo owners, while ensuring a positive and sustainable impact on societies and the planet. DP World is focused on driving sustainable growth prioritising practices that have a positive impact on the local people, communities, and environment in which it operates.
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.
Also published on Medium.
