UAC of Nigeria Plc is set to sell its 43 percent stake in DP World Logistics Limited, formerly known as MDS Logistics Limited, to 22 Plus Invest Limited, a member of Tropical General Investments (TGI) Group, in a transaction that will transfer UAC’s interest in the logistics company to the diversified Nigerian conglomerate.
UAC disclosed the proposed transaction in a corporate announcement dated September 24, 2026, stating that completion is subject to requisite regulatory approvals.
The deal marks a significant change in UAC’s investment in the logistics business after years of working with DP World Logistics’ management to expand the company.
Fola Aiyesimoju, group managing director of UAC, said the company had worked closely with DP World’s management to support the logistics company’s growth and expansion.
He said UAC believes TGI would become a strong long-term partner for DP World Logistics following completion of the transaction, citing the group’s market knowledge and track record of building businesses in Nigeria.
‘We look forward to seeing the Company continue to grow and strengthen its contribution to Nigeria’s logistics sector,’ Aiyesimoju said.
The proposed acquisition will bring together TGI’s domestic market and distribution capabilities with DP World’s global logistics expertise.
Farouk Gumel, Vice Chairman of TGI Group, said the transaction reflects both companies’ ambition to reshape 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,’ Gumel said.
TGI expands logistics footprint
The proposed transaction allows TGI to deepen its presence in logistics and distribution, alongside its existing operations across agriculture, food processing, FMCG manufacturing, distribution, chemicals, poultry farming, real estate and financial services.
TGI has operated in Nigeria and the broader West African region for more than four decades and has expanded into markets including India and the United Arab Emirates. The group says it has more than 25,000 employees.
For UAC, the disposal comes as the group continues to operate across packaged food and beverages, paints, animal feeds and other edibles, quick-service restaurants, logistics and real estate through its subsidiaries and associates.
DP World Logistics is part of the broader global DP World network, which operates across ports and terminals, marine services, logistics and technology. DP World says it has more than 125,000 employees operating across six continents.
The value of the proposed transaction was not disclosed in UAC’s announcement.
The completion of the sale remains subject to the requisite regulatory approvals. UAC said further information could be obtained through its investor relations portal.