By Reuters Staff

       1 Min Read

       FILE PHOTO: The corporate logo of DP World is seen at Jebel Ali Port in Dubai, United Arab Emirates, December 27, 2018. REUTERS/Hamad I Mohammed/File Photo

       JOHANNESBURG (Reuters) - Dubai’s DP World said on Thursday it had made a cash offer of 12.73 billion rand ($887 million) to acquire all shares of South African firm Imperial Logistics.

       The acquisition, giving the global supply chain solutions provider a stronger foothold in the African continent, will be done at a premium of around 40% to the closing price of Imperial as on July 7, the company said.

       Imperial will be de-listed after the acquisition.

       ($1 = 14.3513 rand)

       Reporting by Promit Mukherjee; Editing by Tom Hogue

       Our Standards: The Thomson Reuters Trust Principles.