Today’s news / DSV’s billion purchase of DB Schenker approved
Deutsche Bahn has approved DSV's acquisition of DB Schenker, sources told Reuters. (Archive photo). Photo: Malte Ossowski/Sven Simon/Ritzau Scanpix

DSV’s billion purchase of DB Schenker approved

Danish logistics giant DSV’s acquisition of German logistics company DB Schenker has been approved by the board of state-owned Deutsche Bahn, as confirmed by both companies. The purchase is contingent on regulatory approval. DSV’s CEO Jens H. Lund expressed gratitude towards Deutsche Bahn for their professionalism and looks forward to creating a leading global player in the transportation and logistics industry. The deal valued at €14.3 billion will make DSV the world’s largest logistics company by revenue, with a combined turnover of around DKK 293 billion and a workforce of 147,000 employees across over 90 countries. There were several interested buyers, with Maersk and CVC Capital Partners as the final contenders. Concerns by the German union Verdi regarding potential layoffs if DSV took over were addressed by DSV committing to certain ‘social obligations’ towards employees for two years post-acquisition. This acquisition is DSV’s largest yet and marks one of the largest in Danish business history.