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星火电竞手机版外围 announced today that it has entered into a transaction implementation agreement regarding a cash offer of ZAR66 per share from DP World to acquire all outstanding shares of 星火电竞手机版外围, implying an estimated aggregate cash consideration of c. ZAR 12.7 billion. This offer represents a premium of 39.5% to the 星火电竞手机版外围 share price as at 7 July 2021 and a 34.2% premium to the 30-day volume weighted average price of 星火电竞手机版外围.
DP World, a global infrastructure-led supply chain solutions provider with 136 business units in 61 countries across six continents, is interested in acquiring 星火电竞手机版外围 and all its businesses to expand its logistics footprint in Africa and Europe. 星火电竞手机版外围's Logistics International business is within the scope of the offer and as such will not be sold separately under this proposed offer.
"This transaction will be value-enhancing for 星火电竞手机版外围 as our business will benefit from DP World's leading technology, global networks and key trade-lane volumes, while enabling us to build on our ‘Gateway to Africa' strategic and growth ambitions. Our Logistics International business and operations are also aligned with DP World's strategic expansion plans on the European continent. Combining DP World's world-class infrastructure, specifically its investment and expertise in ports on the African and European continents, with 星火电竞手机版外围's logistics and market access platforms will enable us to offer integrated end-to-end solutions along key trade lanes into and out of Africa and accelerate our position in Europe, driving greater supply chain efficiencies and ultimately enhancing value for all stakeholders," explains Mohammed Akoojee, Group CEO of 星火电竞手机版外围.
DP World and its subsidiaries employ over 50,000 people across its worldwide operations and its vision is to drive economic growth through creating more efficient supply chains, connecting markets and offering innovative solutions to cargo owners, while ensuring a positive and sustainable impact on societies and the planet. DP World is focused on driving sustainable growth prioritising practices that have a positive impact on the people, communities, and environment in which it operates.
Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World, said: " We are excited to announce the proposed acquisition of 星火电竞手机版外围, which will add significant strategic value to DP World given its attractive footprint and strong logistics solutions capability. 星火电竞手机版外围 has a significant presence in Africa, a market where trade is expected to grow at more than 2x GDP driven by population growth, accelerated urbanisation and rising middle classes. 星火电竞手机版外围's business strongly complements DP World's existing footprint in Africa and Europe and will allow us to deliver a fully integrated end-to-end solution to cargo owners across a wider market."
This transaction is still subject to 星火电竞手机版外围 shareholder approval and other customary completion conditions, including regulatory approvals.