DSV Completes Panalpina Takeover

Creates Combined Workforce of 60,000 Employees

Danish logistics specialist DSV has completed its acquisition of rival Panalpina Welttransport via an all share voluntary public transaction, valued at US$4.6 billion.
The agreement will see two of Switzerland’s largest breakbulk handling companies merge, with Kurt Kokhauge Larsen becoming chairman, and Jens Bjørn Andersen, Jens H. Lund and Thomas Stig Plenborg becoming members of the Panalpina board. The companies will now undertake an integration process which is expected to take two to three years, with the combined firm to operate as DSV Panalpina A/S.
The combined entity will be one of the world’s largest transport and logistics companies with a pro forma revenue of about DKK 118 billion and a workforce of 60,000 employees in 90 countries.
"We are very excited to welcome Panalpina’s customers, employees and shareholders to DSV. Our two companies will achieve more together, creating even more value for all our stakeholders. The settlement of the deal marks the beginning of the integration process, during which we will strive to provide the high level of service our customers know and rely on,” Andersen said.