DSV has announced its biggest transaction to date after signing an agreement to acquire Schenker from Deutsche Bahn. DSV's claim the acquisition will strengthen its global network, expanding its expertise and competitiveness as well as benefiting employees, customers and investors. The value of the acquisition has been reported to be EUR 14.3 billion.
With this acquisition, its clear Germany will be a key market for DSV with a substantial impact on the future of the organisation. Various central functions are expected to stay in Germany, including at the Schenker location in Essen with DSV expecting to grow in Germany with further plans to invest EUR 1 billion in the country over the next 3-5 years.
Jens H. Lund, Group CEO, DSV:
“This is a transformative event in DSV’s history, and we are very excited to join forces with Schenker. 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.”“By adding Schenker’s competencies and expertise to our existing network, we improve our competitiveness across all three divisions: Air & Sea, Road, and Solutions. As well as enhancing our commercial platform across DSV, the acquisition will provide our customers with even higher service levels, innovative and seamless solutions and flexibility to their supply chains.”
Jochen Thewes, CEO, Schenker:
“DB Schenker is one of the most powerful and innovative teams in transportation and logistics with more than 150 years of experience. 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.”
Richard Lutz, CEO, Deutsche Bahn:
“The sale of DB Schenker to DSV marks the largest transaction in DB's history and provides our logistics subsidiary with clear growth prospects. It has been important for us to find a strong partner for Schenker and a long-term home for the employees of the company.”
Next steps
The deal is conditional on approvals by the Supervisory Board of Deutsche Bahn and by the German Federal Ministry for Digital and Transport, which are expected in the coming weeks. In addition, the acquisition is conditional on obtaining customary regulatory clearances, which are expected to be secured in Q2 2025. DSV expects to finance the transaction through a combination of equity financing of around EUR 4-5 billion and debt financing. Until the closing of the transaction, DSV and Schenker remain two separate companies conducting business as usual.
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