DSV on Tuesday said it had fulfilled the final closing conditions for its acquisition of German logistics provider Schenker.
Logistics provider DSV (DSV:CO) on Tuesday said it had cleared the final regulatory hurdles for its acquisition of DB Schenker of Germany.
Denmark-based DSV announced in September that it was acquiring Schenker from German national railroad Deutsche Bahn in a deal that would create a combined entity with 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 at 1,850 locations in more than 130 countries.
The acquisition will be officially completed on April 30, DSV said.
Find more articles by Stuart Chirls here.
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