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DP World to buy South Africa’s Imperial Logistics

[ July 8, 2021   //   ]

Dubai-based port and transport operator DP World has made an offer to buy 100% of South African-owned international logistics firm Imperial. It says that its offer of ZAR66 per share is a premium of 39.5% on the current share price.
The transaction is subject to Imperial shareholder approval and other customary completion conditions, including regulatory approvals.
DP World said the move would help it to expand its logistics footprint in Africa and Europe. Imperial’s Logistics International business is within the scope of the offer, it added.
Imperial is active in the healthcare, consumer, automotive, chemicals, industrial and commodities, including some of the fastest growing and most challenging markets in the world, added DP World. The company is also active in many European countries.
DP World group chairman and chief executive, Sultan Ahmed Bin Sulayem said the purchase “will add significant strategic value to DP World given its attractive footprint and strong logistics solutions capability. Imperial 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 business strongly complements DP World’s existing footprint in Africa and Europe and will allow us to deliver a fully integrated end-to-end solution to cargo owners across a wider market.”
Imperial group chief executive, Mohammed Akoojee, added: “Our Logistics International business and operations are also aligned with DP World’s strategic expansion plans on the European continent. Combining DP World’s world-class infrastructure, specifically its investment and expertise in ports on the African and European continents, 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 and accelerate our position in Europe.”

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