TGI to acquire 43% stake in DP World’s Nigerian logistics arm
Tropical General Investments is set to acquire UAC of Nigeria’s 43 per cent shareholding in DP World Logistics, subject to regulatory approval. The deal follows agreements involving DP World’s proposed deep-sea port and special economic zone in Ogun State, expanding the company’s Nigerian interests from maritime infrastructure into logistics and distribution.
Tropical General Investments Group is set to acquire a 43 per cent stake in DP World’s Nigerian logistics business, extending the global ports operator’s involvement in Nigeria beyond port infrastructure and into distribution and supply-chain services. TGI subsidiary 22 Plus Invest Limited will acquire UAC of Nigeria’s entire shareholding in DP World Logistics Limited, formerly known as MDS Logistics Limited. The transaction is subject to regulatory approval.
DP World will retain majority ownership, while UAC will leave the business. DP World Logistics provides road freight and contract logistics services across Nigeria. The company is expected to expand its capabilities and explore additional services, including fourth-party logistics solutions.
It will also use DP World’s international network to connect Nigerian businesses with regional and global markets. The proposed partnership combines DP World’s global logistics expertise with TGI’s Nigerian distribution network and market experience. The companies said the arrangement could also create a platform for future expansion across West Africa, although the source material does not provide a timetable for the transaction’s completion.
The announcement came days after DP World signed memoranda of understanding with the Ogun State Government for the development of the Gateway Deep Sea Port and the Ogun State Blue Marine Special Economic Zone. The proposed projects are intended to link maritime infrastructure with logistics, manufacturing and regional market access. UAC Group Managing Director Fola Aiyesimoju said UAC had worked with DP World’s management to support the logistics company’s expansion.
He described TGI as a strong long-term partner, citing its market knowledge and record of building businesses in Nigeria. TGI Vice Chairman Farouk Gumel said the acquisition reflected a shared ambition to reshape trade and logistics in Africa. DP World Africa chief executive Mohammed Akoojee described Nigeria as a critical market for the continent’s future trade and said the partnership would strengthen supply chains and improve the movement of goods.
TGI has interests in agriculture, food processing, manufacturing, distribution and other sectors, while DP World operates ports, terminals, logistics and technology businesses across six continents.
This independently written report is based on information supplied by the named publisher. Vertrix News has not independently verified the source report.