The transaction DSV’s largest acquisition to date, which will create a combined company with an expected pro forma revenue of €39.3 billion and have a combined workforce of 147,000 employees in 90 countries.
Germany will become a key market for DSV with various central functions staying in the country including at Schenker’s location in Essen.
DSV plans €1 billion of investments in Germany over the next three to five years, which will contribute to long-term growth and job creation, and promote modern and attractive workplaces.
Jens H. Lund, Group CEO of DSV, says, “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 of Schenker, adds, “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.”
The conditional deal needs to be approved by the Supervisory Board of Deutsche Bahn and by the German Federal Ministry for Digital and Transport, which are expected in the coming weeks.
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 equity financing of around €4-5 billion and debt financing.