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DSV Panalpina buys Agility unit for $4.1 billion to become No. 3 freight forwarder

3 Min Read
COPENHAGEN (Reuters) - DSV Panalpina said on Tuesday it had agreed to acquire the logistics division of Kuwait’s Agility Public Warehousing Co in an all-share deal worth $4.1 billion, creating the world’s third largest freight forwarding company.
FILE PHOTO: DSV Panalpina CEO Jens Bjoern Andersen is seen during a news conference in Basel, Switzerland, April 1, 2019. REUTERS/Arnd Wiegmann/File Photo
The deal is one of several in recent years as global logistics companies are looking to build scale in a fragmented freight transport market.
It will see Copenhagen-based DSV overtake DB Schenker, putting it behind only DHL Logistics and Kuehne & Nagel as measured by revenue and freight volumes.

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Technavio Research: Domestic Freight Market in US to Grow Over $ 170 Billion During 2021-2025 | Featuring Vendors Including Deutsche Post DHL Group, DSV Panalpina A/S, and Others

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Technvaio forecast the global domestic freight market in the US to grow by USD 170.10 billion during 2021-2025. This marks a significant market slow down compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of almost 5%.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210118005506/en/
Technavio has announced its latest market research report titled Domestic Freight Market in US 2021-2025 (Graphic: Business Wire).

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