DP World has announced an offer to acquire South Africa-based Imperial Logistics, an integrated logistics provider with operations mainly across Africa and in Europe.
The acquisition will broaden DP World’s capabilities, particularly in Africa, building on its extensive infrastructure of ports, terminals and economic zones. It will also significantly accelerate DP World’s transformation into an advanced logistics company offering end to end supply chain services to the owners of cargo.
DP World’s cash offer for Imperial is valued at around $890m.
Imperial Logistics has a presence across 25 countries, including a significant footprint in the high growth Africa market. The Group focuses on fast-growing industries including healthcare, consumer, automotive, chemicals, industrial and commodities.
The acquisition of Imperial would add new capabilities to DP World, particularly in Africa. DP World aims to improve connectivity between African producers along fast-growing trade lanes to the rest of the world. Imperial’s Integration with DP World will strengthen South Africa’s position as a logistics hub for Africa.
“The acquisition of Imperial will help DP World to build better and more efficient supply chains for the owners of cargo, especially in Africa. Imperial’s operations are complementary to our network of ports, terminals and logistics operations on the continent. Like DP World, Imperial’s biggest asset is its people, and we look forward to welcoming employees of Imperial into the DP World team on successful conclusion of the transaction,” commented Sultan Ahmed Bin Sulayem, Group Chairman and CEO, DP World.
“This transaction will be value-enhancing for Imperial as the business will benefit from DP World’s leading technology, global networks and key trade lane volumes, while enabling us to build on our ‘Gateway to Africa’ strategic and growth ambitions,” said Mohammed Akoojee, Group Chief Executive Officer of Imperial Logistics.
The acquisition is subject to Imperial’s shareholder approval and other customary completion conditions including regulatory approvals.
Source: Seatrade Maritime
