The Meridian

UAC of Nigeria agrees sale of its 43% DP World Logistics stake to TGI Group

22 Plus Invest, a TGI Group company, will take UAC’s minority stake in the former MDS Logistics, subject to regulatory approvals.

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 company disclosed the agreement in a filing dated 24 September 2026.

The sale is subject to regulatory approvals. DP World remains the other shareholder in the logistics business. The price was not disclosed. The filing was signed by UAC’s Company Secretary and Group General Counsel, Ayomipo Wey.

The Meridian Editorial Team

Andrew U. — Editorial Director | Damilare A. — Intelligence Director | Amaka Nwoye — Senior Legal Research Analyst | Salome Mensah — Market Intelligence Analyst | May Ndlovu — Editorial Researcher | K.K. Lawal — Senior Correspondent | The Meridian’s editorial team brings experience across West African legal markets, commercial law, market intelligence and structured research. Our standard is simple: evidence first, independent judgement, and analysis grounded in how legal work happens in practice.

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