Danish logistics company DSV A/S has agreed to acquire DB Schenker, a division of Deutsche Bahn AG, for $15.9 billion in one of the largest sales of a state-owned business in Germany. The all-cash deal, announced on September 13, will significantly expand DSV’s global presence, making it the world’s largest freight forwarding and supply chain management company.
The transaction will be financed through a combination of debt and a $5.5 billion share sale over the next 12 months. DB Schenker’s 73,000 employees will join DSV, doubling the company’s workforce and adding substantial capacity to its logistics operations. This acquisition marks a major milestone for DSV, which has grown rapidly through strategic acquisitions, including Panalpina in 2019 and GIL in 2022.
DB Schenker’s sale is part of Deutsche Bahn’s efforts to reduce debt and improve its struggling rail infrastructure. DSV has pledged to preserve jobs in Germany, committing $1.1 billion in investments over the next five years. The deal is subject to regulatory approvals and a final green light from Deutsche Bahn’s supervisory board.
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