UAC Nigeria to sell 43% stake in DP World Logistics to TGI Group

UAC of Nigeria Plc 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 proposed transaction, which remains subject to regulatory approvals, was disclosed in a corporate filing issued by the company on September 24, 2026.

The statement was signed by Ayomipo Wey, Company Secretary and Group General Counsel of UAC Nigeria.

The deal marks a significant development in Nigeria’s logistics sector and will see TGI Group become a key shareholder in the logistics company alongside global supply chain operator DP World.

UAC Backs TGI as Long-Term Partner

Commenting on the transaction, UAC Nigeria’s Group Managing Director, Fola Aiyesimoju, said the company was confident that TGI Group would help sustain the growth trajectory achieved by DP World Logistics over the years.

UAC said it had worked closely with DP World’s management team to support the company’s expansion and operational growth.

The company believes TGI’s market expertise and experience in building businesses will strengthen DP World’s operations in Nigeria.

UAC expressed confidence in the proposed partnership’s long-term benefits for the company, its employees, and stakeholders.

The conglomerate said it expects DP World Logistics to continue contributing to the development of Nigeria’s logistics industry.

• “UAC has worked closely with DP World’s management to support the significant growth and expansion of the Company over the years.
• “We believe TGI, following completion of the proposed transaction, will be a strong long-term partner for DP World, its management and employees, bringing deep market knowledge and a strong track record of building businesses in Nigeria,” Aiyesimoju said.

He added that UAC looks forward to seeing the company continue to grow and deepen its impact within the country’s logistics ecosystem.

TGI Sees Opportunity in African Trade and Logistics

TGI Group described the acquisition as a strategic move aligned with its long-term vision for logistics, trade, and supply chain development across Africa.

The group said the transaction reflects a shared ambition with DP World to strengthen trade infrastructure across the continent.

TGI plans to leverage its distribution network and market knowledge alongside DP World’s global logistics expertise.

The partnership is expected to support stronger regional connectivity and more resilient supply chains.

The company believes the collaboration can unlock long-term economic opportunities across African markets.

• “This proposed acquisition and partnership with DP World reflects our shared ambition to reshape the future of trade and logistics in Africa.
• “By combining DP World’s global expertise with TGI Group’s deep market knowledge and extensive distribution network, we are building resilient supply chains that will unlock growth, strengthen regional connectivity and support economic prosperity for generations to come,” said Farouk Gumel, Vice Chairman of TGI Group.

The transaction underscores growing investor interest in logistics infrastructure as companies position themselves to benefit from expanding trade activity across the continent.

Companies Bring Extensive Industry Experience

The proposed deal brings together three organisations with significant footprints across multiple sectors and markets.

• UAC of Nigeria operates across packaged foods, beverages, paints, animal feeds, quick-service restaurants, logistics, and real estate.
• TGI Group has more than 40 years of operations spanning agriculture, FMCG manufacturing, food processing, chemicals, poultry, distribution, real estate, and financial services.
• TGI employs more than 25,000 people across Nigeria, West Africa, India, and the United Arab Emirates.
• DP World operates in more than six continents with a workforce exceeding 125,000 employees and offers services across ports, terminals, marine logistics, and supply chain technology.

The breadth of experience across the three organisations is expected to support the continued development of logistics and trade infrastructure in Nigeria and beyond.

Deal Follows UAC’s C.H.I. Limited Integration

The planned divestment comes months after UAC completed the final stage of its acquisition and integration of C.H.I. Limited.

• UAC consolidated its acquisition special purpose vehicle, UAC Food and Beverage Company Limited, into C.H.I. Limited.
• The special purpose vehicle was established solely to facilitate the acquisition of the beverage company.
• Following the completion of the transaction, UAC said the vehicle was no longer required.
• The consolidation completed the final structural step in the company’s takeover of C.H.I. Limited.

The sale of its stake in DP World Logistics reflects UAC’s continued portfolio management strategy as the conglomerate refines its investment holdings and focuses on long-term value creation across its businesses.