Danish logistics group DSV introduced Friday a deal to amass Schenker, a division of German rail agency Deutsche Bahn, for 14.3 billion euros ($15.8 billion) and create a “powerhouse” within the freight-forwarding sector.
“This is a transformative event in DSV’s history, and we are very excited to join forces with Schenker” DSV chief government Jens Lund stated in a press release.
“With the acquisition we bring together two strong companies, creating a world-leading transport and logistics powerhouse that will benefit our employees, customers and shareholders,” Lund added.
DSV stated the deal was its largest transaction to this point.
The mixed firms may have 147,000 workers in additional than 90 international locations and generate income of 39.3 billion euros.
DSV stated Germany will probably be a “key market” for the corporate. It is going to retain Schenker’s location in Essen and make investments one billion euros within the nation over the following three to 5 years.
“Together with DSV, our goal is to transform the industry and build a truly global market leader with joint European roots for the best of our employees and our customers,” Schenker CEO Jochen Thewes stated.
