Dubai's DP World to acquire South African logistics firm Imperial for $880 million

FILE PHOTO: The corporate logo of DP World is seen at Jebel Ali Port in Dubai, United Arab Emirates, December 27, 2018. REUTERS/Hamad I Mohammed/File Photo

JOHANNESBURG (Reuters) – Dubai’s DP World said on Thursday it had made a cash offer of 12.73 billion rand ($887 million) to acquire all shares of South African firm Imperial Logistics.

The acquisition, giving the global supply chain solutions provider a stronger foothold in the African continent, will be done at a premium of around 40% to the closing price of Imperial as on July 7, the company said.

Imperial will be de-listed after the acquisition.

($1 = 14.3513 rand)

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