All DSV articles – Page 7
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NewsDSV boss "happy, proud and humble" to merge with Panalpina
DSV boss Jens Bjørn Andersen said that the proposed $4.6bn merger with Panalpina is expected to complete in around six months.Andersen, chief executive of Denmark-based DSV, made his comments during an investor call this morning on the “combination of forces” with Switzerland-headquartered Panalpina.The merger, still subject to shareholder and regulatory ...
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NewsBreaking news: Panalpina and DSV set to merge in $4.6bn deal
DSV and Panalpina have agreed the terms and conditions of a combination to join forces with a Public Exchange Offer to all Panalpina shareholders.If the DSV offer of SFr195.8 for each Panalpina share is successful, a deal worth around $4.6bn, DSV and Panalpina will become one of the world’s largest ...
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CMA CGM nears 90% of voting rights in CEVA Logistics
CEVA Logistics is likely to de-list from the SIX Swiss Exchange later this year after confirming media reports that French shipping group CMA CGM is on course to control almost 90% of the voting rights in the supply chain company.Switzerland-based CEVA said that a SFr30 per share public tender offer ...
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CMA CGM set for Ceva stake of almost 90%
According to a report by Reuters, CMA CGM now controls almost 90% of the voting rights in Ceva Logistics.This follows a public tender offer from French shipping group of SFr30 per share. Reuters said this offer values Ceva at SFr1.67bn ($1.66bn) – a price that has been agreed after a ...
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NewsDHL GF: 2018 airfreight volume decline predominantly down to strategy
The world’s largest air forwarder DHL Global Forwarding has said the decline in airfreight volumes recorded in 2018 was largely down to its own strategy and not caused by market conditions.Last year the forwarder saw its air cargo volumes decline by 4.4% year on year to 2.1m tonnes while the ...
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Panalpina EGM to take place on April 5
Takeover target Panalpina’s board of directors is to hold an extraordinary general meeting (EGM) on April 5, which will also support the motion of the shareholder Ernst Göhner Foundation (EGF) to implement the One Share – One Vote standard "to further enhance the company’s corporate governance".This would lift the 5% ...
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NewsRecord year for airfreight at Panalpina but no updates on DSV and Agility talks
Panalpina's latest annual report shows that airfreight volumes in 2018 breached the 1m tonne mark for the first time in the company's history, but there is no further update on its potential takeover or merger.The Switzerland-headquartered freight forwarder reported a 9.1% increase in revenues to SFr6bn, earnings before interest and ...
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Panalpina shareholder battle continues with voting right dispute
Panalpina’s second largest investor has hit out at plans to change shareholder voting rules as the battle to control the future of the forwarder continues.Earlier this week majority holder, Ernst Göhner Foundation (EGF), which holds around 46% of the company, submitted a request a request that the company change to ...
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NewsKuehne+Nagel full-year profits helped by "outstanding" airfreight
Kuehne+Nagel reported increases in revenues and profits last year as its airfreight division “continued its outstanding development”.The world’s largest forwarder saw its revenues for 2018 increase by 11.7% year on year to SFr24.8bn, while earnings before interest and tax (ebit) was up 5.3% to SFr987m and net profit jumped by ...
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Panalpina considers voting rule change following shareholder complaint
Panalpina is considering changing its shareholder voting rules following a request from its majority investor.Majority shareholder Ernst Göhner Foundation (EGF), which holds around 46% of the company, has submitted a request that the company change to a One Share–One Vote standard at an extraordinary shareholders' meeting to be held prior ...
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Panalpina seeks tie up with Agility as DSV ups its offer
The ongoing Panalpina takeover saga took another twist today as the forwarder announced it was in talks with Kuwait-headquartered Agility over a potential tie up and in response DSV has upped its offer for Panalpina.Panalpina this morning confirmed media reports that it is "in discussions with Agility Group on potential ...
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Panalpina chief: We're on the acquisition trail
Panalpina chief executive Stefan Karlen has told the Swiss business press that the forwarder is on the acquisition trail, despite itself being a takeover target.Karlen told Finanz and Wirtschaft (F&W) that the company would be looking to grow organically and inorganically through acquisitions.This could include deals involving companies the same ...
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DSV warns of supply chain disruption in the case of no-deal Brexit
DSV has warned its customers to expect supply chain disruption if the UK leaves the European Union in March without a trade deal in place.Speaking during an investor call shortly after announcing its 2018 full-year results, chief executive Jens Bjørn Andersen said that some customers were moving their European distribution ...
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DSV: No comment on Panalpina as profits rise
DSV saw profits and revenues take-off in 2018 but has declined to provide any further comment on its attempt to acquire Panalpina.The Copenhagen-headquartered freight forwarder saw full-year revenues increase by 5.5% to DKr79bn, earnings before interest and tax (ebit) were up 11.7% to DKr5.4bn and net profits increased 32.4% to ...
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WiseTech Global continues expansion with Systema acquisition
Logistics software firm WiseTech Global has continued its expansion with the the acquisition of Systema, a customs management solutions provider in Norway.Headquartered in Oslo, Systema offers customs and logistics management solutions from its coresoftware platform SYSPED to customers in Norway, Denmark and Sweden.Customers include Dachser, DHL, DSV, Norsk Trailer Express, ...
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CEVA board decides not to recommend CMA CGM takeover bid of CHF30 per share
CEVA Logistics's board had decided not to recommend the CHF30 per share takeover offer by shipping line CMA CGM, a 33% major shareholder.Switzerland-based CEVA said in a statement that its board of directors, “with the exception of two conflicted members, came unanimously to the conclusion not to recommend to CEVA's ...
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DSV move for Panalpina could spark 'bidding war' for forwarder
Consultant Transport Intelligence (Ti) has suggested that DSV's move to purchase Panalpina could spark a 'bidding war' for the forwarder that could price the Danish company out of the running.In its latest market round-up, Ti took a closer look at the potential outcome of DSV's $4bn offer to purchase Panalpina.Practice ...
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DSV in unsolicited $4bn bid for Panalpina
Danish logistics giant DSV has made an unsolicited bid to acquire Switzerland-based Panalpina in a SFr170 per share offer that values the rival freight forwarder at around $4bn.Based on 2017 figures (the latest available), the move would create the world's second largest airfreight forwarder (see chart at end of article) ...
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Air Cargo News' most read in 2018
With 2019 already underway, the Air Cargo News editorial team decided that now would be an opportune moment to review which stories had proved to be most popular with our readers over the last 12 months.It has been a record year for the Air Cargo News website, with page views ...
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DSV Canada to open its largest logistics complex
A new 1.1m sq ft multi-user warehouse and logistics complex in Canada will be the largest facility of its kind in the international DSV network when it opens in autumn next year.Located in Milton, Ontario, part of the Greater Toronto Area, it will become the DSV Canada head office and ...