DP World acquires 100% stakes in Imperial
Imperial Logistics Limited (Imperial) and DP World Logistics FZE (DP World) have announced that all preliminary conditions on DP World’s offer to acquire 100% of Imperial have been met. The transaction will be completed on March 14, 2022.
“We are pleased to complete the transaction, which will add value to our employees, customers and principals, to our service offering in the markets we serve, and to our other key stakeholders who will benefit from DP World’s advanced technology, capabilities, global networks, scale and key lane trading volumes, enabling us to grow our Gateway to Africa strategy and growth ambitions,” said Imperial Group CEO Mohammed Akodji.
“Combining DP World’s world-class infrastructure, particularly its investment and expertise in ports on the African continent, with Imperial’s logistics and market access platforms will allow us to offer integrated end-to-end solutions on key trade routes to and from Africa, as well as improve supply chain efficiency and ultimately add value for all stakeholders.”
DP World and its subsidiaries employ more than 71,000 people worldwide, and its vision is to drive economic growth by creating more efficient supply chains, connecting markets, driving global trade flows and offering innovative solutions to cargo owners, while ensuring a positive and sustainable impact on society and the planet. DP World is focused on sustainable growth, prioritizing methods that have a positive impact on the local communities, communities and environments in which it operates.
The acquisition is also expected to add significant strategic value to DP World, given Imperial’s attractive presence, broad market access and logistics solutions capabilities. Imperial’s business significantly complements DP World’s existing presence in Africa and Europe and will enable DP World to provide fully integrated end-to-end solutions in a broader market.
Sultan Ahmed bin Sulayem, Chairman and CEO of DP World, said: “We are pleased to complete the acquisition of Imperial, which has a significant presence in Africa, a market where trade is expected to grow at more than twice the rate of GDP, driven by population growth, accelerated urbanization and an expanding middle class. Imperial’s market access and logistics capabilities and extensive presence in Africa and Europe 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 ensuring sustainable and inclusive growth. Imperial’s goal aligns with our approach, and we look forward to welcoming Imperial into the DP World family.
Imperial Logistics Limited (@Imperial_Logist) & @DP_World Logistics FZE announce that all conditions precedent regarding DP World’s offer to acquire a 100% stake in Imperial have been fulfilled. The transaction will be implemented on 14th March 2022.https://t.co/RbmjAne2dO pic.twitter.com/GhKFyRxX4Q
— Dubai Media Office (@DXBMediaOffice) February 26, 2022
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