Agility to take 8% stake in combined company
Agility and DSV Panalpina recently signed an agreement for DSV to acquire Agility’s Global Integrated Logistics (GIL) business. The combination is expected to create a top-three global freight forwarder based on revenues.
Agility will become the second largest shareholder in DSV with an approximate 8% stake in the combined company.
Agility and DSV have reached an agreement that DSV will acquire Agility’s stand-alone GIL business in an all-share transaction.
The combination of DSV and GIL will fortify DSV’s position as a leading global transport and logistics company with a combined pro forma revenue of approximately US$ 22bn and a combined workforce of more than 70,000 employees.
Creating Value
“This deal creates significant shareholder value and marks a new milestone in Agility’s journey. Agility remains committed to the supply chain industry, and will become the second largest shareholder in one of the fastest-growing and most profitable logistics companies in the world,” said Tarek Sultan, Agility’s Vice-Chairman.
According to Tarek, Agility will be exploring opportunities between DSV and its other businesses, with promising areas of future cooperation potentially including Agility’s Logistics Parks business, Shipa group of companies, and technology ventures. Agility will remain an emerging markets leader, investor in emerging technologies, and champion of sustainable business.”
“Agility’s Global Integrated Logistics business and DSV are an excellent match, and we are proud that we can announce our agreement to unite,” remarked Jens Bjørn Andersen, Group CEO, DSV.
