Imperial Logistics stock rockets on DP World take-over

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Riyadh

DP World has offered to acquire Johannesburg-listed Imperial Logistics in a deal worth $890 mil-lion that would bolster the Dubai port operator’s footprint in Africa.

The news sent shares in the South African company rocketing by almost 34 percent in early trade.

The proposed acquisition would spur the Dubai company’s plans to evolve into an advanced logis-tics company offering end-to-end supply chain ser-vices, it said in a statement on Thursday.

DP World’s cash offer of R66 rand per share im-plies an equity consideration of around 12.7 billion rand ($890 million) and represents a premium of 39.5 percent to the Imperial share price on Wednes-day..—AN

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