UACN Concludes Transaction For Sa Firm To Acquire 49% Equity Stake

The NSE confirms that “UAC of Nigeria Plc (‘UACN’) and Imperial Holdings Ltd, South Africa (‘imperial’) through its subsidiary, Imperial Mobility International B.V. Netherlands, have concluded a transaction whereby Imperial acquires 49% equity in MDS Logistics Plc (‘the Company’), a wholly owned subsidiary of UACN. UACN retains 51% majority stake in MDS Logistics Plc.

The joint venture is driven by the need for a strategic partnership with an experienced international operator that brings technical expertise into the company. Imperial Logistics – a division of the Imperial Group – established in 1746, is an international logistics and supply chain leader delivering excellence in end-to-end logistics and supply chain operations in several African countries and in Europe”.