Freight forwarder DSV buys Deutsche Bahn’s Schenker for $15.9 billion

COPENHAGEN (Reuters) – Denmark’s DSV said on Friday it has signed an agreement to buy Schenker, the German state rail operator Deutsche Bahn’s logistics unit, for 14.3 billion euros ($15.85 billion) in a deal which could make it the world’s biggest freight forwarder.

“The acquisition of Schenker is a transformative transaction for DSV, creating a world-leading player within the global transport and logistics industry,” logistics company DSV said in a statement.

Reuters reported on Wednesday that the Danish group had won the race to buy Schenker, citing sources at the railway and at the German government.

DSV’s acquisition of Schenker, the most costly for a Danish firm to date, is set to propel it above Swiss group Kuehne und Nagel in both volume and revenue, making it the leading freight forwarder globally, according to brokerage Sydbank.

($1 = 0.9022 euros)