DSV gobbles up Agility Logistics for 3.5 billion euros

After two years, DSV purchased the Swiss Panalpina for about 4 billion euros; it now purchases the Kuwaiti Agility Global Integrated Logistics (GIL) from the parent holding Agility Public Warehousing for 3.5 billion euros.

The purchase is financed with its own shares. This also happened with the Swiss Panalpina takeover. That means DSV now has two majors shareholders (the Swiss Ernst Göhner Stiftung with 11% and a Kuwaiti major shareholder with 8%).

The deal with Agility will mean that DSV will be in the global top three logistics services aftermarket leader DHL and K + N. DSV will soon have more than seventy thousand employees. DSV will increase the annual container volume by 600,000 teu to 2.8 million teu, while the air cargo volume will increase by 300,000 tons to 1.6 million tons.

The purchase is not yet final; it still has to be approved by the shareholders and the competition authorities.