DSV Panalpina has completed the acquisition of Agility’s Global Integrated Logistics (GIL) business.
DSV Panalpina signed an agreement to acquire the company earlier this year, as HLPFI reported here.
Now, with conditions and requirements met, the integration process will begin. The deal is valued at approximately DKK30.2 billion (USD4.8 billion).
Agility will be the second largest shareholder in DSV Panalpina with an approximate 8 percent stake in the combined company. According to the Danish forwarder, the combined company has an expected revenue of approximately DKK160 billion (USD25.3 billion), operating across more than 90 countries.
The two organisations will be merged in a country-by-country process, which means that for customers and employees in many countries the coming period will be business as usual until the country-specific merger process is initiated.
Jens Bjørn Andersen, group ceo, DSV, said: “By adding the GIL network and competencies to our existing network, we improve our competitiveness across all three divisions: Air and Sea, Road and Solutions. This brings commercial synergies and cross-selling opportunities while at the same time providing our customers with an even higher service level and a one-stop-shop for logistics needs.”