Agility Logistics has announced that it expects to complete the sale of its Global Integrated Logistics, (GIL), business to DSV Panalpina today.
The all-shares transaction gives Agility 19,304,348 DSV shares upon full completion of the deal, representing approximately 8% of all post-transaction shares of DSV, making Agility the second largest DSV shareholder based on today’s shareholder register.
The enterprise value of the transaction is USD 4.775 billion and the equity value is USD 4.675 billion.
Tarek Sultan, Agility Vice Chairman and CEO said: “We will accelerate growth in the businesses we continue to operate, which historically account for around 80% of our EBIT.
“Our future will be built around businesses, technology, and investment that expand access to global trade and make supply chains smarter, greener, fairer, and more resilient.”
In addition to its stake in DSV, Agility will receive a seat on the DSV board of directors.
With the acquisition of GIL, DSV will become a global top-three player in the freight forwarding industry with an expected combined revenue of $26 billion, and 75,000 employees worldwide.
Jens Bjørn Andersen, Group CEO of DSV Panalpina said: “We will now start the integration, and together, we are going to grow the business and bring even more value to our many customers, partners, and shareholders than we do separately.”