On 14 January an overwhelming majority of the shareholders of UTi Worldwide agreed on the acquisition by the Danish transport and logistics provider DSV. The authorities approved the final agreement, and the usual closing conditions for the transaction are satisfied – thus there is nothing to prevent the companies from merging.
In order to ensure a quick and smooth integration, the integration will be initiated. In the meantime, DSV and UTi will continue to operate as two individual companies
“We are going to start the integration process immediately, while servicing our customers to the same high standard as usual. In future the business of the two companies DSV and UTi will be combined under the DSV brand,“ says Jens Bjørn Andersen, CEO DSV A/S.
The transaction makes DSV the fourth largest freight forwarder in the world by adding approximately 50% to DSV’s existing revenue. In addition, the enhanced DSV has a more diversified geography and business mix as well.
Once the integration of the two companies has been completed, DSV will have around 40,000 employees in 1,000 offices in 80 countries, operating logistics facilities with 4.7 million m² warehousing capacity. The transaction has significantly strengthened the global market position of the DSV Air & Sea division, making it the world’s sixth and seventh largest operator within ocean and air freight, respectively.
It also adds a global scale to DSV’s contract logistics division, solutions, and expands DSV Road’s freight and distribution activities to cover Europe, North America, Africa and Asia. Last but not least, the new and improved DSV will offer strong specialist skills in industry verticals such as automotive, healthcare/pharmaceuticals or energy.