DSV plans to issue new shares for 37.3B DKK

Danish logistics giant DSV is poised to become the world’s largest in its field with the acquisition of German DB Schenker. Before the transfer of ownership from the German state, DSV must cover a purchase price of 107 billion DKK, hence the company’s decision to issue new shares worth 37.3 billion DKK. The guaranteed issue is targeted at professional investors. Pledges from investors, including American Blackrock, Norges Bank, and ATP Pension, total 21 billion DKK. The remaining shares are intended for large institutional and professional investors who have until October 8 to submit bids. While Deutsche Bahn and the German Ministry of Transport approved the sale, approval from antitrust authorities is pending, expected in the second quarter of the next year. The merger would result in a combined turnover of 293 billion DKK and a workforce of 147,000 employees across 90 countries.