Dubai-headquartered DP World has tabled an offer to acquire South African transport and logistics group Imperial Logistics for R12.7bn ($883m).
The purchase price for Imperial, which is listed on the Johannesburg Stock Exchange (JSE), represents a 39.5% premium on its stock price yesterday, and the deal will require approval by shareholders and competition regulators.
However, Imperial’s group chief executive, Mohammed Akoojee, clearly backs the takeover.
“This transaction will be value-enhancing for Imperial as …

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Source: The Loadstar