Saudi logistics company Bahri pulls out of DB Schenker bid
There's been an update on the sale of DB Schenker.
Just a short time ago on July 1, shipping giant Maersk announced its withdrawal from the bid for Deutsche Baersinker, and if Bahri also withdrew, the current bidders are only left with freight forwarding giant DSV, and CVC, a private equity consortium composed of the ABU Dhabi Investment Authority and Singapore wealth funds.
Previously, DSV had been the frontrunner, and after other contenders have dropped out, DSV's advantage appears to be even clearer. Shortly after the news of Bahri's withdrawal from the bidding, DSV's share price suddenly rose, and I do not know if it is related to this.
Maersk Chief executive Vincent Clerc has said that no matter who buys DB Schenker, it will have a great impact on the market and change the logistics landscape.
According to Transport Topics' 2024 Top 50 Global Sea and air Freight forwarders list, DSV is the fourth largest sea freight forwarder and the fourth largest air freight forwarder in terms of business volume, while DB Schenker is the fifth largest sea freight forwarder and the third largest air freight forwarder. If DSV succeeds in acquiring DB Schenker, it will become the world's largest freight forwarding company.
According to the timetable, the final buyer of DB Schenker will be identified in the second half of 2024, and the transaction is expected to be officially completed in 2025.
Just a short time ago on July 1, shipping giant Maersk announced its withdrawal from the bid for Deutsche Baersinker, and if Bahri also withdrew, the current bidders are only left with freight forwarding giant DSV, and CVC, a private equity consortium composed of the ABU Dhabi Investment Authority and Singapore wealth funds.
Previously, DSV had been the frontrunner, and after other contenders have dropped out, DSV's advantage appears to be even clearer. Shortly after the news of Bahri's withdrawal from the bidding, DSV's share price suddenly rose, and I do not know if it is related to this.
Maersk Chief executive Vincent Clerc has said that no matter who buys DB Schenker, it will have a great impact on the market and change the logistics landscape.
According to Transport Topics' 2024 Top 50 Global Sea and air Freight forwarders list, DSV is the fourth largest sea freight forwarder and the fourth largest air freight forwarder in terms of business volume, while DB Schenker is the fifth largest sea freight forwarder and the third largest air freight forwarder. If DSV succeeds in acquiring DB Schenker, it will become the world's largest freight forwarding company.
According to the timetable, the final buyer of DB Schenker will be identified in the second half of 2024, and the transaction is expected to be officially completed in 2025.
