Denmark's DSV wins $14 billion race for Deutsche Bahn's Schenker, sources say

DSV bids highest, beating off rivals including KKR, Advent and Cinven

Freight forwarder eyes largest acquisition in company history, with Schenker deal set to transform logistics landscape

Danish freight forwarder DSV has won the race to buy Deutsche Bahn's Schenker unit, sources familiar with the matter said on Wednesday, in a deal that would be the largest in the company's history.

DSV has outbid a consortium led by private equity firm KKR & Co and two other rival groups, Advent International and Cinven, the sources said. The deal is expected to be announced later on Wednesday, they added.

DSV is offering around 14 billion euros ($16.1 billion) for Schenker, Germany's largest logistics company, the sources said. The deal would transform the global logistics landscape, creating a company with combined revenue of around 30 billion euros and a workforce of over 140,000 people.

Schenker is one of the world's leading freight forwarders, with a strong presence in air, sea and land transportation. It also offers contract logistics services, such as warehousing and distribution.

DSV is a global transport and logistics company headquartered in Copenhagen, Denmark. It provides a range of services, including air and sea freight forwarding, road transport, and warehousing.

The acquisition of Schenker would give DSV a major boost in the global logistics market. It would also allow the company to expand into new markets, such as Eastern Europe and Asia.

The deal is still subject to regulatory approval, but it is expected to close later this year.

Conclusion

The acquisition of Schenker by DSV is a major development in the global logistics industry. It will create a new global leader in the sector and is likely to have a significant impact on the competitive landscape.