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DSV to create global logistics giant with $15.9 billion Schenker takeover
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DSV to create global logistics giant with $15.9 billion Schenker takeover
Business
Date posted: 20.09.2024
Category: Automobile / Transport
Denmark’s DSV (DSV.CO), opens new tab has agreed to buy Schenker, the logistics arm of German state rail operator Deutsche Bahn, for 14.3 billion euros ($15.85 billion) in a deal that would make it the world’s biggest logistics company.
The acquisition will be the biggest by a Danish company and, according to DSV, propel it above DHL Logistics and Swiss group Kuehne und Nagel (KNIN.S), opens new tab in both volume and revenue, but will still only give the group between 6% and 7% of a highly fragmented global logistics market.
DSV, which started as a small enterprise of 10 truckers in 1976, has grown through a string of acquisitions – sometimes taking over companies larger than itself.
“The size of this one is actually larger than all the transactions we’ve done before,” CEO Jens Lund told journalists.
Deutsche Bahn put Schenker up for sale last year to concentrate on its core railway business in Germany and reduce its debt.
Read full article here.
Read full article here.
Source: Reuters