728 x 90

DP World reveals plan to buy South Africa’s Imperial Logistics for $890m

DP World reveals plan to buy South Africa’s Imperial Logistics for $890m

Dubai-based DP World plans to buy South Africa’s Imperial Logistics Ltd. for $890 million, in what the port operator said would be its most significant acquisition in Africa so far. The company plans to offer 66 rand ($4.60) per share, a 40 percent premium to Imperial’s closing price on Wednesday. The deal is expected to

Dubai-based DP World plans to buy South Africa’s Imperial Logistics Ltd. for $890 million, in what the port operator said would be its most significant acquisition in Africa so far.

The company plans to offer 66 rand ($4.60) per share, a 40 percent premium to Imperial’s closing price on Wednesday. The deal is expected to close by the first quarter of 2022.

“Imperial’s business strongly complements DP World existing footprint in Africa and Europe and will allow DP World to deliver a fully integrated end-to-end solution to cargo owners across a wider market,” it said in a statement on Thursday.

Dubai’s DP World commits to invest $442m in Somaliland port project

DP World and the Government of Somaliland inaugurate a new container terminal at Berbera Port, following completion of the first phase of the project

DP World is one of the world’s largest operators of marine ports and inland cargo terminals, stretching from gateways in London and Antwerp to hubs in Africa, Russia, India and the Americas.

The firm has been on an acquisition spree as it attempts to become a more diversified, integrated logistics company. It bought supply chain solutions provider Syncreon Holdings Ltd. last week for an enterprise value of $1.2 billion.

Meanwhile, DP World continues to look for ways to cut debt and is considering offering international investors a chance to buy into the Jebel Ali Free Zone, a prized asset that helped transform Dubai into a hub of global trade, people familiar with the matter have said.

Building on our extensive network of ports, terminals and economic zones, our offer to acquire Imperial Logistics will greatly enhance our logistics capabilities in Africa and Europe. Read the full press release here: https://t.co/czH1iPNfqe— DP World (@DP_World) July 8, 2021

For all the latest transport news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.

Mo
ADMINISTRATOR
PROFILE

Posts Carousel

Latest Posts

Top Authors

  • Mo
    ADMINISTRATOR

Most Commented

Featured Videos