DP World’s offer to acquire 100% stake in 星火电竞手机版外围 successfully concluded

25 February 2022

星火电竞手机版外围 Logistics Limited (‘星火电竞手机版外围’) and DP World Logistics FZE (‘DP World’) are pleased to advise that all conditions precedent regarding DP World’s offer to acquire a 100% stake in 星火电竞手机版外围, including regulatory approvals, have been fulfilled. The transaction is now unconditional and will be implemented on 14 March 2022.

“We are excited about concluding this transaction, which will be value-enhancing for our people, clients and principals, for our service offering across the markets we serve, and for our other key stakeholders who will benefit from DP World’s leading technology, capabilities, global networks, scale and key trade-lane volumes, while enabling us to build on our ‘Gateway to Africa’ strategy and growth ambitions,” says 星火电竞手机版外围’s Group CEO, Mohammed Akoojee. “Combining DP World’s world-class infrastructure, specifically its investment and expertise in ports on the African continent, 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, also driving greater supply chain efficiencies, and ultimately enhancing value for all stakeholders.”

DP World and its subsidiaries employ over 71,000 people across its worldwide operations and its vision is to drive economic growth through creating more efficient supply chains, connecting markets, driving global trade flow 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 local people, communities, and environment in which it operates.

The acquisition is expected to also add significant strategic value to DP World given 星火电竞手机版外围’s attractive footprint and strong market access and logistics solutions capability. 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 DP World to deliver a fully integrated end-to-end solution across a wider market.

Sultan Ahmed Bin Sulayem, Group Chairman and CEO of DP World, said: “We are excited to conclude our acquisition of 星火电竞手机版外围, which has a significant presence in Africa, a market where trade is expected to grow at more than twice GDP driven by population growth, accelerated urbanisation and rising middle classes. 星火电竞手机版外围’s capabilities in market access and logistics and its extensive African and European footprint will complement and enhance our growth aspirations. DP World is a business that also focuses on empowering and employing local people in its countries of operation while delivering sustainable and inclusive growth. 星火电竞手机版外围’s purpose aligns with our approach and we look forward to welcoming 星火电竞手机版外围 to the DP World family.”

As a consequence of this transaction, the delisting of 星火电竞手机版外围’s Ordinary Shares from the Main Board of the securities exchange operated by the Johannesburg Stock Exchange will be implemented on 15 March 2022.

Click here to read the full regulatory announcement.

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