Logistics
AGILITY FINALIZES SALE OF GLOBAL INTEGRATED LOGISTICS BUSINESS TO DSV PANALPINA
August 17, 2021

Agility announced that it expects to complete the sale of its Global Integrated Logistics (GIL) business to DSV Panalpina A/S (DSV) on August 16.

 

In a statement, it said the all-shares transaction gives Agility 19,304,348 DSV shares upon full completion of the deal in all jurisdictions, representing approximately 8% of all post-transaction shares of DSV.

 

Self Photos / Files - DSV-kopie 

 

This makes Agility the second largest DSV shareholder based on that day’s shareholder register. 

 

Agility said the enterprise value of the transaction is US$4.775 billion and the equity value is US$4.675 billion. 

 

“We’ve shown that Agility knows how to build and scale successful businesses. This deal affirms Agility’s global strategy and execution, and positions us for a new era of growth,” said Tarek Sultan, Agility vice chairman and CEO.

 

“We’re moving forward with a strategic investment in DSV, one of the world’s best-performing logistics providers. We will accelerate growth in the businesses we continue to operate, which historically account for around 80%of our EBIT. And we will continue investing in businesses that are driving sustainable innovation in supply chain and transportation.” 

 

Sultan said Agility’s next phase of growth will create additional shareholder value.

 

“In the last decade, Agility created almost US$7 billion in value for shareholders, increasing it five fold since 2011. We are determined to sustain this momentum going forward.”

     

In addition to its stake in DSV, Agility said it will also receive a seat on the DSV board of directors.

 

With the acquisition of GIL, DSV becomes a global top-three player in the freight forwarding industry with an expected combined revenue of roughly US$26 billion and 75,000 employees worldwide. 

 

Jens Bjørn Andersen, Group CEO of DSV Panalpina, said: “DSV and GIL simply constitute an excellent match. We will now start the integration, and together, we are going to grow the business and bring even more value to our many customers, partners and shareholders than we do separately.”  

 

According to Agility, regulatory clearances are pending in a limited number of jurisdictions, which are not material in the context of the overall size of the transaction.