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Danish transport group DSV A/S has announced that it has signed a €14.3 billion deal. The agreement aims to acquire the Schenker logistics division of Deutsche Bahn AG, which is also present in Romania.
Following the transaction, the Danish company could become the largest freight carrier in the world. The takeover of Schenker by DSV is the most expensive acquisition by a Danish firm.
“The acquisition of Schenker is an important transaction for DSV. This will create a world-leading player in the field of logistics and transport services.”, reads a press release from DSV.
DSV becomes the world’s largest freight carrier
According to data from the brokerage company Sydbank, following the transaction, DSV becomes the largest transport and logistics company in the world. The company will surpass the Swiss group Kuehne und Nagel in both revenue and cargo volume.
The combined entity will have revenues of DKK 293 billion ($43.52 billion), based on 2023 financial results. The company will have about 147,000 employees in more than 90 countries, DSV said.
Schenker is a global provider of logistics and transport services. The business employs more than 70,000 people worldwide, accounting for more than a third of Deutsche Bahn’s revenues. The company has 1,850 locations globally, of which approximately 15,000 are in Germany.
In December 2023, Deutsche Bahn announced that it would look into a possible sale of DB Schenker. A deal would help the German state-controlled rail operator reduce its debts and modernise local operations, a priority for Berlin.
