UAC Nigeria to divest 43% stake in DP World Logistics

UAC of Nigeria Plc (NGX: UACN) has agreed to sell its 43% shareholding in DP World Logistics Limited (formerly MDS Logistics Limited) to 22 Plus Invest Limited, a member of the Tropical General Investments (TGI) Group. The transaction, disclosed in a corporate filing on September 24, 2026, is subject to regulatory approvals.

Ayomipo Wey, Company Secretary and Group General Counsel of UAC Nigeria, signed the statement. UAC's Group Managing Director, Fola Aiyesimoju, expressed confidence that TGI Group would sustain the growth of DP World Logistics.

UAC has collaborated with DP World’s management to support the company’s expansion. TGI Group views the acquisition as a strategic move to enhance logistics and trade infrastructure across Africa, leveraging its distribution network alongside DP World’s global expertise.

The deal reflects growing investor interest in logistics infrastructure amid expanding trade activity. This divestment follows UAC's recent acquisition of C.H.I.

Limited and aligns with its portfolio management strategy focused on long-term value creation.