UAC of Nigeria Plc has agreed to sell its entire 43 per cent shareholding in DP World Logistics Limited to 22 Plus Invest Limited, a company affiliated with TGI Group.
The transaction will see UAC exit its investment in DP World Logistics as part of its broader portfolio management strategy.
According to the company, the agreement involves the sale of UAC’s full equity interest in DP World Logistics to 22 Plus Invest. The completion of the transaction remains subject to the satisfaction of applicable conditions and regulatory requirements.
DP World Logistics is involved in logistics and supply-chain services, including the movement and handling of goods within Nigeria’s commercial and industrial sectors.
The proposed transaction is significant because UAC has historically maintained investments across several sectors of the Nigerian economy, including logistics, food and consumer products, and other businesses.
The sale would allow UAC to redirect capital and management attention toward its remaining businesses and investments.
For TGI Group, the acquisition would strengthen its position in Nigeria’s logistics sector and expand its interests in supply-chain infrastructure and related services.
The logistics industry has become increasingly important as businesses seek more efficient ways to move goods amid rising transportation costs, port-related challenges and growing demand for organised supply-chain services.
Nigeria’s expanding manufacturing and consumer markets have also increased demand for logistics providers capable of moving products from ports and factories to distributors and final consumers.
The transaction is expected to be completed after the necessary approvals and other conditions attached to the agreement have been fulfilled.
UAC said the company would provide further information to shareholders and the investing public as required under applicable regulations.
The deal is another example of companies in Nigeria reviewing their investment portfolios and reallocating capital toward areas considered central to their long-term business strategies.
