Logistics major DSV has announced the successful completion of its acquisition of Schenker from Deutsche Bahn.
Valued at approximately EUR 14.3 billion, it marks the largest transaction in DSV's history.
The combined company will have a revenue of approximately EUR 41.6bn and a workforce of close to 160 000 employees across more than 90 countries.
Schenker CEO Jochen Thewes believes the companies are a strong business match, with many similarities in business models and services.
“The combination will strengthen DSV's global network and competitiveness and provide access to new markets and talents at a crucial time for global trade and supply chains,” said Jens H Lund, Group CEO, DSV.
“Besides greater reach and better opportunities to create truly end-to-end solutions for our customers, the acquisition strengthens DSV's platform for future growth and the development of a more sustainable, flexible and digitalised transport and logistics industry.”
Schenker will be included in the consolidated financial statements of DSV from May 1.
