DP World is set to conclude its acquisition of South Africa-based Imperial Logistics Limited with all conditions having been fulfilled.
Conditions included regulatory approvals and the transaction will be implemented on 14 March 2022.
“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,” said Imperial’s Group CEO, Mohammed Akoojee.
“Imperial’s capabilities in market access and logistics and its extensive African and European footprint will complement and enhance our growth aspirations,” commented Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World. “Imperial’s purpose aligns with our approach, and we look forward to welcoming Imperial to the DP World family.”
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.
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.
Source: Seatrade Maritime News