DSV Reports Further Growth In Run-Up To Panalpina Merger
Summary
The combined volumes of the two companies will handle 1.5 million tonnes of airfreight annually with a total of $17 billion revenue. Jens Bjørn Andersen, DSV Group CEO said, "We have made a thorough analysis of Panalpinas freighter operation and are excited to see how that will work in combination with us." However, to allow the listing of new shares for the Exchange Offer to the shareholders of Panalpina, DSV has withdrawn its outlook for 2019 effective as of 30 April. "We expect to publish a new financial outlook once the combination with Panalpina is completed," said a company statement. As previously announced, we have entered into an agreement to join forces with Panalpina and we expect that this transaction will close by the end of the third quarter this year."