With all conditions and requirements for the approximately DKK106.7bn (€14.3bn) acquisition of Schenker from Deutsche Bahn now met, global logistics specialist DSV has formally announced the completion of the deal, creating a world-leading player in the transport and logistics industry.
Confirmation that the deal, signed in September 2024 and reported by EW, has gone through marks the largest transaction in DSV’s history. The company says it will “significantly” enhance its global network, expertise, and competitive edge across all three divisions.
The acquisition also doubles the size of DKK and is set to provide the company with a revenue of approximately DKK310bn (€41.6bn) and a workforce of close to 160,000 employees across more than 90 countries.
The announcement comes as DKK is set to announce its Q1 2025 results.
Jens H. Lund, group CEO, DSV said: “With the completion of the acquisition of Schenker, we have reached a milestone in the history of DSV. We have been looking forward to completing the transaction and I am excited to welcome our new colleagues to the DSV organisation. With this acquisition, we become a world-leading player in global transport and logistics, at a time when global supply chains are more in focus than ever before, and our customers need a reliable and agile global network of services and products. By combining the two companies we will create a unique flexible platform for long-term financial growth to the benefit of our customers, employees, shareholders and other stakeholders.”
Jochen Thewes, CEO, Schenker, added: “We are happy to complete this important milestone, and we are looking forward to joining forces with DSV. The dialogue throughout the last months has been very positive and we are very excited about the prospects of the combined business. DSV and Schenker are a strong match with many similarities in business models and services, shared values and high operational standards, and we look forward to getting to work.”
The combined company said it expected to offer economies of scale, achieving industry-leading margins.
DSV said it was also committed to a smooth transition and would approach the integration “with due respect and careful consideration for customers, employees and stakeholders”.
Schenker will be included in the consolidated financial statements of DSV from 1 May 2025. Based on preliminary estimates, annual synergies are estimated in the level of DKK9bn at end of 2028.
Source: www.exhibitionworld.co.uk
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