UAC of Nigeria Plc has revealed plans to sell its 43 percent shareholding in DP World Logistics Limited (formerly known as 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 dated September 24, 2026, and signed by Ayomipo Wey, Company Secretary and Group General Counsel of UAC Nigeria.
If completed, the deal will make TGI Group a key shareholder in the logistics firm alongside global supply chain operator DP World, which already holds a majority stake in the company.
According to the filing, UAC’s Group Managing Director, Fola Aiyesimoju, said the company had worked closely with DP World’s management team to support the logistics firm’s growth and expansion over the years. He said UAC believes TGI’s market expertise and track record of building businesses in Nigeria will strengthen DP World Logistics’ operations going forward, describing TGI as likely to be “a strong long-term partner” for the company, its management and employees.
For its part, TGI Group described the acquisition as consistent with its long-term strategy for logistics, trade and supply chain development across Africa. Farouk Gumel, Vice Chairman of TGI Group, said the deal reflects a shared ambition with DP World to build more resilient supply chains and strengthen regional trade connectivity on the continent.
The three organisations involved carry sizeable footprints across their respective sectors. UAC of Nigeria operates in 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, and employs over 25,000 people across Nigeria, West Africa, India and the United Arab Emirates. DP World operates across more than six continents with a global workforce exceeding 125,000, offering services in ports, terminals, marine logistics and supply chain technology.
The planned divestment comes months after UAC completed the final stage of integrating C.H.I. Limited into its operations, following the earlier consolidation of its acquisition special purpose vehicle into the beverage company. The company described the DP World Logistics sale as part of its ongoing portfolio management strategy, as it continues to refine its investment holdings in pursuit of long-term value creation across its businesses.
