Dubai-based port operator and logistics company DP World is planning to acquire Imperial Logistics for $890 million and expand its footprint in Africa, media reports said. Clifford Chance is acting for DP World on the transaction. The acquisition is said to be DP World’s most significant in Africa so far.
The acquisition of Imperial Logistics, which has operations in Africa and Europe, will help DP World to expand the infrastructure of its ports, economic zones and terminals into Africa.
In a press release, DP World said, “DP World aims to improve connectivity between African producers along fast-growing trade lanes to the rest of the world.”
Group chair and CEO of DP World, Sultan Ahmed Bin Sulayem said, “The acquisition of Imperial will help DP World to build better and more efficient supply chains for the owners of the cargo, especially in Africa.”
After the acquisition, Imperial will be delisted and this will give DP World a much-needed presence in the South African region, thereby adding new capabilities and relationships with cargo owners.
DP World also signed an agreement to co-develop logistics infrastructure in Ethiopia. DP World signed a preliminary agreement with Ethiopia’s transport ministry. The preliminary agreement also involves setting up a joint venture logistics company. Further details of the deal were not disclosed.
Earlier this year, DP World finished the ‘go-live’ of a cloud-based Terminal Operating System (TOS) at the Commercial Port of Luanda in Angola. The platform, called CARGOES TOS+ (Zodiac) solution, offers real-time information on vessel, gate, and yard movements to the users.