UAC agrees to transfer entire DP World Logistics stake to TGI affiliate
UAC of Nigeria Plc has agreed to sell its full 43 per cent holding in DP World Logistics Limited to 22 Plus Invest Limited, an entity identified as a member of the TGI Group. The supplied announcement does not disclose the transaction value, completion date or its effect on the companies.
UAC of Nigeria Plc has agreed to sell its entire shareholding in DP World Logistics Limited, according to information published by Punch Nigeria. The stake represents 43 per cent of DP World Logistics. The proposed buyer is 22 Plus Invest Limited, which Punch Nigeria identifies as a member of the TGI Group.
The agreement means UAC is set to transfer all of its interest in the logistics company to the TGI-linked investment vehicle. The supplied material does not state whether the transaction has been completed or remains subject to regulatory, contractual or other conditions. It also gives no information about the value of the proposed sale, the reason for UAC’s decision to dispose of the holding or the ownership structure that will follow completion.
No statements from UAC, 22 Plus Invest or TGI are included in the available source material. The development was reported by Punch Nigeria under the headline “UAC sells 43% DP World stake to TGI member.”
This independently written report is based on information supplied by the named publisher. Vertrix News has not independently verified the source report.