DP World has concluded its acquisition of South Africa’s Imperial Logistics after meeting all conditions, including regulatory approval, a move that will strengthen the ports operator’s position in Africa.
As a result of the deal, which will be enacted on March 14, Imperial Logistics will delist its shares from the main board of the Johannesburg Stock Exchange on March 15, the companies said in a joint statement.
“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.”
DP World is one of the world’s biggest operators of marine ports and inland cargo terminals, with gateways from London and Antwerp as well as hubs in Africa, India, Russia and the Americas. The company has been on an acquisition spree as it attempts to become a more diversified and integrated logistics company.
The vision of DP World 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.
The acquisition is expected to add significant strategic value to DP World given Imperial’s attractive footprint and strong market access and logistics solutions capability. It will allow DP World to deliver a fully integrated end-to-end solution across a wider market.
HE Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World, said, “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. Imperial’s purpose aligns with our approach and we look forward to welcoming Imperial to the DP World family.”