January 22 - DSV's acquisition of UTi Worldwide has now been completed with the approval of UTi shareholders and competition authorities.
HLPFI reported on January 15 that UTi's shareholders had overwhelmingly voted to adopt the previously announced merger agreement.
"I have no doubt that the combination of DSV and UTi is a recipe for success," said DSV ceo Jens Bjørn Andersen. "We will now start the integration process while taking care to maintain a high service level towards all customers. The commercial activities of DSV and UTi will continue under the DSV brand as we move forward."
The transaction adds around 50 percent to DSV's existing revenue, making it the fourth largest freight forwarder in the world, claims the company, adding that the acquisition significantly strengthens its global market position within the air and sea freight sectors.