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UAE's DP World offers to buy South Africa company for $890m

Containers seen being offloaded at the DP World operated Jebel Ali Port, in Dubai, United Arab Emirates, on December 26, 2007 [Charles Crowell/Bloomberg via Getty Images]
Containers seen being offloaded at the DP World operated Jebel Ali Port, in Dubai, United Arab Emirates, on December 26, 2007 [Charles Crowell/Bloomberg via Getty Images]

Dubai Ports World (DP World) has submitted an offer to acquire Imperial Logistics, listed on the Johannesburg Stock Exchange, for $890 million.

DP World said in a statement yesterday that the acquisition will enhance its capabilities, especially in Africa, based on its extensive infrastructure of ports, container terminals and economic zones.

Imperial Logistics is a multi-market integrated logistics company operating in Africa and Europe, in addition to 25 countries.

The statement indicated that the purchase, if completed, would contribute to the transformation of DP World into a logistics company, providing cargo owners with integrated supply chain services from the point of shipment to the destination of goods.

The transaction is subject to approval by Imperial Logistics shareholders and other routine completion terms, including regulatory approvals.

DP World is one of the world's largest port operators, with a portfolio of more than 77 marine terminals spread over six continents, including new projects underway in India, Africa, Europe and the Middle East.

READ: Dubai tackles explosion in a container at its port

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AfricaMiddle EastNewsSouth AfricaUAE
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