UPDATE 1-DSV shares reach all-time high after completing Agility deal | Reuters
DSV on Monday raised its outlook for the year after having completed its $4.8 billion acquisition of Kuwait’s Agility Public Warehousing Co, sending its shares to a record high.
The acquisition, announced in April here, of the logistics division of Kuwait's Agility Public Warehousing Co will create the world's third-largest freight forwarding firm with a combined workforce of more than 75,000 employees.
Chief Executive Jens Bjorn Andersen told Reuters in an interview that he expects the integration of Agility to be completed by mid-2022, by when he would be ready for new acquisitions.
It will see DSV overtake Germany’s DB Schenker, putting it behind only DHL Logistics and Swiss-based Kuehne & Nagel as measured by revenue and freight volumes.
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