BY NKIRUKA NNOROM

UAC Nigeria Plc, Monday said that it has entered into a N4.21 billion business partnership with Imperial Logistics, a leading international logistics and supply chain arm of the South Africa-based Imperial Holdings Limited.

The agreement will see Imperial Logistics acquiring 49 percent equity stake in MDS Logistics Plc, a wholly-owned subsidiary of UAC. UAC on its own will retain the remaining 51 percent majority stake in MDS Logistics Plc.

The Joint Venture, according to a statement signed by the Head Corporate Communication, UACN, Mr. Mike Asuquo, was driven by the need for a strategic partnership with an experienced international operator that would bring technical expertise into the Company.

“Imperial Logistics, a division of the Imperial group established in 1946, is an international logistics and supply chain leader delivering excellence in end-to-end logistics and supply chain management with operations in several African countries and in Europe,” the statement added.

Commenting on the rationale for the transaction, UACN’s Group Managing Director/CEO, Mr Larry Ettah,s said: “We look forward to working together with Imperial Logistics as our strategic partner to engage the underserved and fast- growing logistics market in Nigeria. We believe this transaction creates an outstanding opportunity to drive growth in MDS. The combination of MDS’ vital local experience and the value adding international logistics expertise of Imperial Logistics will lead to efficiencies and raise benchmarks in Nigeria for the benefit of all stakeholders.”

Mr Marius Swanepoel, CEO of Imperial Logistics, added: “Our newest acquisition strengthens Imperial Logistics’ footprint in Africa and is consistent with our strategy of focusing on consumer opportunities in Africa and following our customer base on the continent. MDS has a quality customer base with a strong new business pipeline. Through the transaction, Imperial has also secured a specialist management team which strengthens and complements the group’s existing skills set in the logistics business.”