DP World and Imperial to complete takeover
Dubai-headquartered port and terminal operator DP World Logistics is now ready to take over Southern African Imperial Logistics. Both parties have announced that "all conditions precedent regarding DP World’s offer to acquire a 100% stake in Imperial, including regulatory approvals, have been fulfilled."
The transaction will be implemented on 14 March 2022, while the delisting of Imperial’s ordinary shares from the main board of the securities exchange operated by the JSE will be finalised on 15 March 2022. Imperial’s business complements DP World’s existing footprint in Africa and Europe.
Sultan Ahmed Bin Sulayem, group chairman and CEO of DP World, said: “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.” (sh)