Agility and DSV Panalpina have today signed an agreement for DSV to acquire Agility’s Global Integrated Logistics, (GIL), business.
The acquisition will be an all-share transaction and closing is expected in the third quarter of 2021.
Agility will become the second largest shareholder in DSV with an approximate 8% stake in the combined company.
The companies have reached an agreement that DSV will acquire Agility’s stand-alone GIL business in an all-share transaction. DSV will issue 19,304,348 shares, representing approximately 8.0% of all post-transaction outstanding shares of DSV.
The combination of DSV and Agility GIL is expected to increase DSV’s annual revenue by approximately 23%.
The combined company will have operations in more than 90 countries, with expected volumes of more than 2.8 million containers, (TEU’s), and more than 1.6 million tonnes of air freight transported yearly.
Jens Bjørn Andersen, Group CEO of DSV said: “GIL’s global network, industry competencies and strong market position in APAC and the Middle East complement DSV’s network well and will support our long-term value creation ambitions.
“GIL’s presence in fast-growing emerging markets in APAC, as well as Europe and Americas, will be a strong addition to DSV’s existing network.”