Danish company DSV has completed the acquisition of DB Schenker, the logistics subsidiary of Deutsche Bahn, with the aim of creating a global market leader in the transport and logistics sector.
According to a statement from Deutsche Bahn, the sale of the subsidiary to the Danish group was for 14.8 billion euros and will be completed in 2025, following regulatory approvals from the German federal government.
He also explained that central functions, including those at Schenker’s headquarters in Essen, will be maintained, making Germany an even more important market for DSV.
“This is a transformative event in DSV’s history and we are very pleased to join forces with Schenker. With the acquisition, we are uniting two strong companies and creating a leading global transport and logistics powerhouse that will benefit our employees, customers and shareholders,” Jens H. Lund, CEO of DSV.
Lund added that by adding Schenker’s expertise and experience to DSV’s existing network, they will improve competitiveness across all three divisions: Air & Sea, Road and Solutions.
“DB Schenker is one of the strongest and most innovative teams in transport and logistics with more than 150 years of experience. The past few 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 company. Together with DSV, we aim to transform the industry and build a truly global market leader with joint European roots for the best of our employees and our customers,” said Jochen Thewes, CEO of Schenker.
“The sale of DB Schenker to DSV marks the largest transaction in DB’s history and offers our logistics subsidiary clear growth prospects. It was important for us to find a strong partner for Schenker and a long-term home for the company’s employees,” said Richard Lutz, CEO of Deutsche Bahn.
Deutsche Bahn said it expects the combined organisation to have more employees in Germany within five years than Schenker and DSV currently have.
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