PHOTO
Dubai-based global port operator DP World announced on Wednesday that it has closed a deal to acquire Imperial Logistics in South Africa.
The acquisition, which is part of the company's efforts to expand its logistics footprint in Africa, took place on March 14, the company said in a statement to Nasdaq Dubai.
Last year, DP World announced plans to acquire Imperial Logistics for approximately $890 million.
The acquisition is expected to boost DP World's supply chain efficiencies and enable the company to offer integrated end-to-end solutions along key trade lanes into and out of Africa.
(Reporting by Cleofe Maceda; editing by Seban Scaria )
