UACN, Imperial logistics seal $2.4m deal
Motolani Oseni
UAC of Nigeria Plc has announced that it was in agreement with Imperial Logistic Limited to increase its shareholding in MDS Logistics Limited to 57 per cent.
In a notice to the Nigerian Stock Exchange (NSE), UACN informed its shareholders and stakeholders that the company has entered into an agreement with Imperial Logistics Limited, under which Imperial Logistics proposes to increase its shareholding in MDS Logistics Limited from 49 per cent to 57 per cent, by acquiring an additional eight per cent shareholding from UAC.
The Transaction is subject to relevant regulatory approvals.
The Chief Executive of African Regions for Imperial Logistics, Johan Truter, explained that “Core to Imperial Logistics’ strategy is working with strong partners as we seek to expand our businesses across Africa.
We consider Nigeria to be a strategically important market and are excited to continue our partnership with UAC to grow MDS and expand its service offering to clients.”
Group Managing Director, UAC’s, Fola Aiyesimoju said: “the transaction is an important milestone for UAC and consistent with our strategy of working closely with partners in empowering best-in-class management teams. Since the commencement of the partnership in 2013, we have been impressed by Imperial Logistics’ operational excellence in warehousing, distribution and transport.
We look forward to greater integration between MDS and the broader Imperial Logistics platform as we strive to deliver value to clients.”
On his part, MDS’ Managing Director, Taiwo Ajibola said, “we at MDS remain focused on leveraging our assets, technology and capabilities to deliver value to our clients. We will continue to benefit from the strengths of our shareholders, Imperial Logistics and UAC.”
Lly an African and Eurozone logistics provider of outsourced, integrated freight management, contract logistics and distributorship – customised to ensure the relevance and competitiveness of its clients.
The group is listed on the Johannesburg Stock Exchange in South Africa and employs over 25,000 people in 32 countries.
UAC is a Holding Company that owns businesses with some of Nigeria’s strongest brands and widest distribution. UAC’s businesses are engaged in the following sectors – packaged food and beverages, paints, logistics, animal feeds and edible oils, quick service restaurants and real estate.
