NEWS\\\ >> 1


DSV has reached an agreement on the terms and conditions for an all share voluntary public tender offer for all publicly held shares of Panalpina. The deal could propel the Danish company – a relative newcomer among global forwarding giants – into the top four international operators. The combined company


would have revenue of about 118 billion Danish krone (£13.7bn) and a workforce of more than 60,000 employees in 90 countries. Following completion, DSV


will also change its name to DSV Panalpina, “which reflects the long,


rich history of both


companies”, it says. DSV chairman Kurt Larsen,


said: “A combination of DSV and Panalpina further strengthens our position as a leading global freight forwarding company. Together, we can present a strong global network and enhanced service offering to our clients, further solidifying our competitive edge in the industry. It’s a great match on all parameters. Panalpina is a great company and we’re very excited by the possibility to join forces and


to welcome Panalpina’s


talented staff”. Panalpina chairman Peter


Ulber, added: “In the course of the past weeks, Panalpina’s board


of directors and management


have been exploring different strategic


initiatives and held


discussions with DSV about a potential combination. The board of directors’ assessment is that the updated proposal of DSV is very attractive. We are now looking forward to joining forces with DSV and contributing to creating, one of the world’s largest transport and logistics companies.” In February, Panalpina held


talks about a possible merger with Kuwait’s Agility aſter its major shareholder Ernst Goehner Foundation rebuffed an earlier $4 billion offer for the company by DSV. The deal does however give


the Foundation significant voting rights in the merged company. In a statement, DSV said as well as commercial synergies and cross-selling opportunities the move would lead


to “consolidation of


operations, administration and logistics facilities” as well as IT infrastructure. Further details are promised


once following settlement of the offer.


Analysts Bloomberg said


that buying Panalpina would boost DSV’s standing in the global forwarder rankings to about number three or four


Tigers sighted in Essex


Asian-owned forwarder Tigers has moved its existing Basildon facility to a new site in Thurrock, near London Gateway port, to meet growing e-commerce demand. The new facility is located


off the M25 with good links to the port of Felixstowe, central London, and all main road routes to the Midlands, Wales, northern England, and Scotland. “Tigers


is committed to investment in the UK, and the


opening of the new Thurrock facility is perfectly timed as we welcome new clients on board for both B2B and B2C global e-fulfilment,” said managing director UK and Europe, Shahar Ayash. “This is a multi-million- pound investment by Tigers in the UK, despite Brexit, and not only will it create new jobs, it will also secure our future as a leader in the logistics and supply chain industry as e-commerce demand continues to grow.”


and number two in airfreight, following quoting DSV chief executive officer Jens Bjorn Andersen. DSV’s earlier acquisitions


include US-based global giant UTi, which it took over in 2016.


Issue 3 2019 - Freight Business Journal


with 110,000 people and with


more than $30 billion in revenue. CMA CGM, already one of


the world’s biggest shipping lines, would now be able to meet the logistics needs of its customers


around the world


with a comprehensive range of solutions across the supply chain, including less-than- containerload cargo, airfreight,


purchase order management, contract logistics and customs clearance. A CEVA operational center will be set up in Marseilles to bring together the management teams and support functions. Chairman and chief executive


of the CMA CGM Group, Rodolphe Saadé, who is also set to be elected as CEVA chairman at the AGM on 29 April, said: “This


3


successful transaction marks a major milestone in the history of CMA CGM’s growth. With CEVA, CMA CGM has confirmed its position as a leading worldwide maritime transport and logistics group, supported by a team of 110,000 employees. We can now offer our customers a complete range of solutions that meet all their needs and set us apart from the competition.”


You need it. We move it.


Reach out for business opportunities and pave the way for growth and expan- sion. Into new markets, regions, business segments and even countries and con- tinents – all are accessible through innovative transport products and intelligent logistic solutions. In more than 75 countries across the globe, DSV is ready to assist your company in building relationships and living up to your customers’ expectations. Learn how at uk.dsv.com or just call us +44 1708 892108


Global Transport and Logistics


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