UAC of Nigeria sells 43% stake in DP World Logistics to TGI Group

UAC of Nigeria Plc has reached an agreement to sell its entire 43 percent stake in DP World Logistics Limited to 22 Plus Invest Limited, a member of the Tropical General Investments (TGI) Group. The transaction, which was disclosed in a regulatory filing to the Nigerian Exchange, will result in UAC exiting its equity participation in the logistics firm, formerly known as MDS Logistics Limited.

The sale introduces TGI Group as a major local partner alongside global operator DP World. TGI Group aims to leverage the acquisition to deepen its presence in Nigeria’s supply-chain industry, combining its extensive domestic distribution networks with DP World’s international logistics infrastructure.

Completion of the deal remains subject to necessary regulatory approvals. While the financial terms of the transaction were not disclosed, UAC leadership noted that the move allows the conglomerate to focus on its broader portfolio, which includes consumer products, food, paints, and real estate.