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.
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.
He added that UAC looks forward to seeing the company continue to grow and deepen its impact within the country’s logistics ecosystem.
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.
The transaction underscores growing investor interest in logistics infrastructure as companies position themselves to benefit from expanding trade activity across the continent.
The proposed deal brings together three organisations with significant footprints across multiple sectors and markets.
The breadth of experience across the three organisations is expected to support the continued development of logistics and trade infrastructure in Nigeria and beyond.
The planned divestment comes months after UAC completed the final stage of its acquisition and integration 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.
