Schenker buy makes DSV a forwarder colossus [Yahoo! Finance]
DSV A/S UNSP/ADR (DSDVY)
NASDAQ:AMEX Investor Relations:
investor.dsv.com
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Source: Yahoo! Finance
of Denmark on Friday said they have signed an agreement for DSV to acquire DB's logistics subsidiary Schenker for an estimated $15.84 billion. DB said interest income until completion of the sale could push the value to $16.4 billion. DSV said in a release that the combined companies will have revenue of $43.5 billion, ranking ahead of current leading global forwarder Kuehne+Nagel of Switzerland, at $28.11 billion. The joint workforce will total around 147,000 employees in more than 90 countries. Schenker, founded in Vienna in 1872 and acquired by the German State Railway in 1931, will remain headquartered in Germany, where DSV said it plans to invest around $1.1 billion over the next three to five years. “DB Schenker is one of the most powerful and innovative teams in transportation and logistics with more than 150 years of experience,” said Jochen Thewes, chief executive of Schenker, in a release. “The recent years have been the most successful in our company's history and w
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