DP World, one of the world's leading providers of smart logistics, has announced that it has received all regulatory approvals for 100 per cent acquisition of Imperial Logistics, an integrated logistics and market access company with operations mainly across the African continent and in Europe.

 

The transaction is now unconditional and will be implemented on March 14, said DP World in its statement.

 

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. 

 

Group Chairman and CEO Sultan Ahmed Bin Sulayem 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. DP World is a business that also focuses on empowering and employing local people in its countries of operation while delivering sustainable and inclusive growth," noted Bin Sulayem.

 

"Imperial’s purpose aligns with our approach and we look forward to welcoming Imperial to the DP World family," he added

 

Imperial Group CEO Mohammed Akoojee said: "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."

 

"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," he added.

 

DP World said 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 Johannesburg Stock Exchange will be implemented on March 15.-TradeArabia News Service