Agility Sells Its Global Integrated Logistics to DSV Panalpina
Agility, a supply chain service said finalises sale of its Global Integrated Logistics (GIL) business to DSV Panalpina A/S (DSV), a Danish transport and logistics company. The all-shares transaction gave Agility 19,304,348 DSV shares in all jurisdictions, representing approximately 8% of all post-transaction shares of DSV. This makes Agility the second largest DSV shareholder based […]
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Agility, a supply chain service said finalises sale of its Global Integrated Logistics (GIL) business to DSV Panalpina A/S (DSV), a Danish transport and logistics company. The all-shares transaction gave Agility 19,304,348 DSV shares in all jurisdictions, representing approximately 8% of all post-transaction shares of DSV. This makes Agility the second largest DSV shareholder based on today’s shareholder register. The enterprise value of the transaction is $4.775 billion and the equity value is $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. Our future will be built around businesses, technology and investment that expand access to global trade and make supply chains faster, smarter, greener, fairer and more efficient and resilient.”
Sultan said Agility’s next phase of growth will create additional shareholder value. “In the last decade, Agility created almost $7 billion in value for shareholders, increasing it five fold since 2011. We are determined to sustain this momentum going forward.”
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In addition to its stake in DSV, Agility receives a seat on the DSV board of directors. “This is a chance for us to share ideas and find areas where we can collaborate with a visionary DSV leadership team that, like us, is determined to shape the supply chains of the future,” Sultan said.
With the acquisition of GIL, DSV becomes a global top-three player in the freight forwarding industry with an expected combined revenue of roughly $26 billion and 75,000 employees worldwide.
