DSV Panalpina acquires Global Integrated Logistics from Agility

posted on 16th August 2021 by Eddie Saunders

Today’s expected completion of the acquisition of GIL marks an important milestone on the growth journey for DSV.

Within transport and logistics, size is critical and with the acquisition DSV fortifies its position as one of the world’s largest transport and logistics companies.

“I am very pleased to welcome our new colleagues from GIL on this important day,” says Jens Bjørn Andersen, Group CEO, DSV.

“There are many similarities when you look at our two companies both in terms of the business models and services and, not least, when we look at our shared focus on local empowerment and putting customers first.

“DSV and GIL simply constitute an excellent match.

“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”.

The enterprise value of the transaction is approximately DKK 30.2 billion and the equity value approximately DKK 29.6 billion.

The combination of DSV and GIL will have an expected combined pro forma revenue of approximately DKK 160 billion (based on last 12 months) and a combined workforce of 75,000 employees in more than 90 countries.

As consideration for 100 pct. of GIL, Agility receives DSV shares representing approximately 8 pct. of all post-transaction outstanding shares of DSV.

This will make Agility the second largest DSV shareholder based on today’s shareholder register. After completion of the transaction, DSV has agreed to nominate an Agility representative to DSV’s Board of Directors.