DSV A/S (“DSV”) has signed an agreement with Deutsche Bahn to acquire 100 per cent of Schenker AG (“Schenker”) and its affiliates in an all-cash transaction. The transaction values Schenker at EUR 14.3 billion (approximately DKK 107 billion) on an Enterprise Value basis.
The acquisition of Schenker is a transformative transaction for DSV. DSV and Schenker will have a combined revenue of DKK 293 billion (based on pro-forma 2023 full-year financials) and a joint workforce of around 147,000 employees across more than 90 countries.
The combination of the two businesses will create economies of scale and provide a unique offering for our customers, with the addition of highly skilled employees, an enhanced global network, comprehensive solutions and digitalised products and services. The commercial and operational fit between all three divisions of DSV and Schenker will provide strong opportunities to develop the combined business in the coming years, which in turn will contribute to growth, job creation and strong financial returns.
“This is a transformative event in DSV’s history, and we are very excited to join forces with Schenker,” says Jens H. Lund, CEO, DSV.
“With the acquisition, we bring together two strong companies, creating a world-leading transport and logistics powerhouse that will benefit our employees, customers and shareholders.”
“The sale of DB Schenker to DSV marks the largest transaction in DB’s history and provides our logistics subsidiary with clear growth prospects,” says Richard Lutz, CEO, Deutsche Bahn.
“It has been important for us to find a strong partner for Schenker and a long-term home for the employees of the company.”
“DB Schenker is one of the most powerful and innovative teams in transportation and logistics with more than 150 years of experience, ” says Jochen Thewes, CEO of Schenker.
“The recent years have been the most successful in our company’s history and we have proven that DB Schenker is fit for the future. We are excited about the future prospects of the combined business. Together with DSV, our goal is to transform the industry and build a truly global market leader with joint European roots for the best of our employees and our customers.”
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