In line with its mission to expand its presence in emerging markets, DSV has signed an agreement to acquire the Swift Freight group of companies for an undisclosed sum. The transaction was effective from October 1 and both parties have agreed not to disclose the purchase price. Dubai-headquartered Swift Freight has 36 offices spread across 15 countries in Africa, the Middle East and Asia and was established in1989. The purchase agreement includes 100% ownership of the companies in the UAE, China and India and a 33% share of ownership of the companies in Africa. DSV is expected to assume full ownership of the African entities over an agreed period of time. In the 12 African countries where Swift is represented, the operational name will be DSV Swift. Warren Erfmann, CEO of Swift Freight, will continue as regional CEO of all DSV Swift activities in Africa.
