One of Nigeria’s youngest dealmakers, Folasope Babasola Aiyesimoju, the group managing director and largest shareholder of UAC of Nigeria Plc, is overseeing the conglomerate’s proposed exit from its 43% stake in DP World Logistics Limited, formerly MDS Logistics, as UAC continues to reshape its investment portfolio.

UAC has entered an agreement to sell its entire 43% shareholding in the logistics company to 22 Plus Invest Limited, a member of Tropical General Investments (TGI) Group. The transaction, announced on Sept. 24, remains subject to requisite regulatory approvals, with the financial terms not disclosed.

Fola Aiyesimoju, who owns a 25.36% stake in UAC equivalent to 743.08 million shares, has emerged as one of the conglomerate’s largest individual shareholders. His holding gives him a substantial financial interest as the group continues to consolidate acquisitions and recycle capital across its portfolio.

UAC shares rebound after July record high

The proposed disposal comes against a period of significant movement in UAC’s share price on the Nigerian Exchange. Shares reached an all-time high of N199.95 ($0.15) on July 13, when the stock gained 8.11% in a session that saw 1.59 million shares traded across 405 deals. The stock subsequently lost momentum, falling to N168.10 by Sept. 15 and remaining at that level through Sept. 18.

The shares began recovering in the following sessions, climbing to N173.55 on Sept. 21 before closing at N175.40 on Sept. 25. That represented a 1.98% gain on the day, with 2.85 million UACN shares traded in 188 deals and a total value of about ₦500.06 million.

The latest available market data therefore puts UACN at N175.40, still below its July peak but above the N168.10 level reached earlier in September. The Sept. 25 close is the latest trading data available in the sources reviewed.

TGI takes over UAC’s logistics position

Under the proposed transaction, 22 Plus Invest will acquire UAC’s entire 43% interest, positioning TGI as the local shareholder alongside DP World in the Nigerian logistics business.

Aiyesimoju said UAC had worked closely with DP World’s management to support the company’s growth and expansion and expressed confidence that TGI would be a strong long-term partner, citing its local market knowledge and record of building businesses in Nigeria.

Farouk Gumel, vice chairman of TGI Group, said the transaction would combine DP World’s global logistics expertise with TGI’s market knowledge and distribution network as the group expands its presence in trade, logistics and supply-chain development across Africa.

DP World Logistics operates as part of Dubai-based DP World’s global logistics network, while TGI has more than four decades of operations spanning agriculture, food processing, FMCG manufacturing, distribution, chemicals, poultry, real estate and financial services. TGI says it employs more than 25,000 people across Nigeria, West Africa, India and the United Arab Emirates, while DP World has more than 125,000 employees across six continents.

Portfolio reshaping follows C.H.I. integration

The proposed logistics exit comes months after UAC completed the final structural stage of integrating C.H.I. Limited into its operations. The group has been reshaping its portfolio as it integrates the beverage business while reassessing its interests across food and beverages, paints, animal feeds, quick-service restaurants, logistics and real estate.

For UAC, the DP World Logistics transaction would bring its long-standing equity participation in the logistics business to an end and transfer the 43% interest to TGI, subject to regulatory approval.

The disposal also comes as Aiyesimoju remains closely linked to UAC’s market performance through his 25.36% personal holding. At the latest available UACN closing price of N175.4 ($0.13), his 743.08 million shares have a market value of approximately N130.34 billion ($98.1 million), based on the reported shareholding and opening price as of Monday, September 28, 2026.