UAC sells 43% DP World stake to TGI member
UAC of Nigeria Plc has agreed to sell its entire 43% shareholding in DP World Logistics Limited to 22 Plus Invest Limited, a member of the TGI Group. Read More: https://punchng.com/uac-sells-43-dp-world-stake-to-tgi-member/
UAC of Nigeria Plc has announced plans to sell its 43% stake in DP World Logistics Limited to TGI member 22 Plus Invest Limited. The deal, which saw UAC's Company Secretary and Group General Counsel, Ayomipo Wey, sign off on the official filing with the Nigerian Exchange Limited, is contingent upon obtaining the necessary regulatory approvals.
UAC's Group Managing Director, Fola Aiyesimoju, expressed optimism about the partnership with TGI, stating that the acquisition will strengthen DP World's position in Nigeria's logistics sector, thanks to TGI's deep market knowledge and impressive track record. Farouk Gumel, TGI's Vice Chairman, echoed Aiyesimoju's sentiment, emphasizing the strategic alignment of combining DP World's global reach with TGI's extensive distribution capabilities.
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- UAC sells 43% DP World stake to TGI member punchng.com
