Dubai: Imperial Logistics Limited (Imperial) and DP World Logistics (DP World) have announced that all conditions precedent regarding DP World’s offer to acquire a 100 per cent stake in Imperial have been fulfilled. The transaction will be implemented on March 14, 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,” said Imperial’s Group CEO, Mohammed Akoojee.
“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 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.
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.”
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 March 15, 2022.