Imperial Logistics Limited and DP World Logistics FZE have confirmed that all conditions precedent regarding DP World’s offer to acquire a 100% stake in Imperial, including regulatory approvals, have been fulfilled.
Therefore, 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,” commented Imperial’s Group CEO, Mohammed Akoojee.
Sultan Ahmed Bin Sulayem, DP World’s chairman and CEO, 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.”
