DSV buys GIL from Agility in $4.6bn deal

 DSV buys GIL from Agility in $4.6bn deal

Denmark headquartered DSV Panalpina A/S (DSV) announced the acquisition of Global Integrated Logistics (GIL) from Agility, a Kuwait-based leader in supply chain services, innovation and investment.

The enterprise value of the transaction is $4.775 billion and the equity value is $4.675 billion.

“I am very pleased to welcome our new colleagues from GIL on this important day. There are many similarities when you look at our two companies both in terms of the business models and services and, not least, when we look at our shared focus on local empowerment and putting customers first,” said Jens Bjørn Andersen, Group CEO, DSV.

“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.” 

The all-shares transaction gives Agility 19.3 million DSV shares upon full completion of the deal in all jurisdictions, representing approximately 8 percent of all post-transaction shares of DSV. This makes Agility the second largest DSV shareholder based on today’s shareholder register.

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

“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 percent of our EBIT. And we will continue investing in businesses that are driving sustainable innovation in supply chain and transportation.”