TGI Group to acquire UAC's 43% stake in DP World Logistics

UAC of Nigeria Plc has agreed to sell its entire 43 per cent stake in DP World Logistics Limited, formerly known as MDS Logistics Limited, to 22 Plus Invest Limited, a subsidiary of the Tropical General Investments (TGI) Group. The transaction, which is subject to regulatory approval, will see UAC exit the business entirely, leaving DP World as the majority shareholder.

The deal aims to integrate DP World’s global supply-chain capabilities with TGI’s local distribution infrastructure and market expertise in Nigeria. DP World Logistics intends to continue providing road freight and contract logistics services while expanding into fourth-party logistics (4PL) solutions and potentially targeting broader West African markets.

This acquisition follows DP World’s recent announcement regarding a proposed $7 billion deep-sea port and special economic zone in Ogun State, Nigeria. The partnership is viewed as a move to strengthen regional trade networks and deepen economic ties between Nigeria and the UAE.