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UAC of Nigeria stake sale in DP World Logistics

Updated 1 time since CLSTR started tracking revisions of this situation.

What changed

2026-09-30 03:55 UTC → 2026-10-05 14:23 UTC · added removed

UAC of Nigeria Plc has agreed to sell its 43 percent stake in DP World Logistics Limited, previously known as MDS Logistics Limited, to 22 Plus Invest Limited, a subsidiary of the Tropical General Investments (TGI) Group. The transaction will result in UAC exiting its equity participation in the firm, leaving DP World as the majority shareholder. Following the agreement, DP World and TGI Group have announced a partnership to enhance logistics capabilities in Nigeria. The acquisition is intended collaboration aims to combine DP World’s international logistics infrastructure global supply chain expertise with TGI Group’s domestic distribution networks and local market expertise presence and distribution networks. Subject to regulatory approval, TGI Group is expected to become a shareholder in Nigeria. DP World Logistics plans to maintain its Limited. The partnership will focus on delivering integrated supply chain solutions, including road freight and freight, contract logistics services while expanding into logistics, and fourth-party logistics (4PL) solutions and potentially targeting broader West African markets. The deal services. While the initial focus remains subject on Nigeria, the initiative is intended to necessary regulatory approvals. serve as a platform for potential expansion across West Africa. Mohammed Akoojee, CEO of DP World Africa, noted that Nigeria is a “critical market for the future of continental trade,” while TGI Group Vice Chairman Farouk Gumel stated the agreement aims to build “resilient supply chains to support economic prosperity.” This partnership development follows DP World’s announcement regarding a proposed $7 billion deep-sea port and special economic zone in Ogun State, Nigeria, and is viewed as a step toward strengthening regional trade networks. Nigeria.

Versions

  1. 2026-10-05 14:23 UTC UAC of Nigeria stake sale in DP World Logistics
  2. 2026-09-30 03:55 UTC UAC of Nigeria stake sale in DP World Logistics

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