Africa-focused logistics company Imperial Logistics has gotten the go-ahead to own 100% of the J&J Group, giving Imperial – which is owned by Emirati multinational logistics company DP World – greater access to the continent. Imperial says in a statement on Tuesday that the transaction – which is being processed in tranches of three – will first see a transfer of 51% stake of the company and thereafter a transfer of 46.5% and 2.5% to follow.
“This acquisition strengthens DP World’s position as an end-to-end logistics provider, by adding J&J’s significant presence along these key corridors in Africa – a market where trade is expected to grow at more than twice GDP driven by population growth, accelerated urbanisation and rising middle classes,” DP World CEO Sultan Ahmed Bin Sulayem adds. Imperial was recently acquired by DP World for an estimated R12.7 billion and delisted from the JSE in March.
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