Dubai-based global port operator DP World announced on Wednesday that it has closed a deal to acquire Imperial Logistics in South Africa – an operation that expands the company’s footprints in Africa.
The transaction was completed on March 14, the company said in a statement to Nasdaq Dubai.
The Emirati company announced plans for the acquisition last year, for a deal worth $890 million.
Founded in 1946, the South African company, according to its website, provides integrated market access and logistics solutions in healthcare, consumer, automotive, chemicals, industrial and commodities sectors.
It is also the leading logistics supplier in South Africa, and one of the largest on the African continent.
The acquisition is expected to boost DP World’s supply chain efficiencies and enable the company to offer integrated end-to-end solutions along key trade lanes into and out of Africa, commented Zawya.