By Eva Richardson | The Logistic News
April 10, 2025
The European Commission has officially approved Danish forwarder DSV’s high-profile acquisition of DB Schenker, paving the way for the creation of the world’s largest freight forwarder.
DSV first announced its intent to acquire the German logistics heavyweight from Deutsche Bahn in September 2024, in a deal valued at €14.3 billion. This landmark move has been closely monitored across the logistics sector due to its potential to reshape the global freight forwarding landscape.
Regulatory Milestone Reached
The decision, published on the European Commission’s competition cases portal, confirms that the approval was granted on April 8 — the same day as the provisional deadline. This major regulatory green light follows months of scrutiny and extensive review by antitrust authorities.
Prior to the European Commission’s approval, the transaction had already received backing from Deutsche Bahn’s supervisory board and the German Federal Ministry for Digital and Transport. DSV still awaits clearance from the U.S. Department of Justice before the deal can be finalized.
Union Opposition and Rival Bids
Despite internal support from Deutsche Bahn, the deal has faced hurdles. Labor unions expressed concern over potential job cuts and structural changes, while alternative bidders — most notably private equity firm CVC — reportedly attempted to sway Deutsche Bahn with an increased offer.
DSV, however, has remained focused on completing the acquisition and stated in February that it aims to close the deal in Q2 2025.
A Game-Changer for Air and Sea Freight
The acquisition is set to be transformative for DSV’s air and sea freight division. “The Air & Sea division will be significantly strengthened and will after the integration move more than 4m TEU of sea freight and around 2.5m tonnes of airfreight every year,” said DSV.
In 2024, DSV reported a 9% year-on-year increase in air cargo revenues to Dkk55.2bn, while air volumes rose 7.1% to 1.4m tonnes. Despite a 10.9% drop in gross profit, the forwarder sees the DB Schenker acquisition as a strategic growth driver.
Global Integration Ahead
This acquisition marks the largest in DSV’s history — eclipsing all previous M&A activity combined — and positions the company to lead the global logistics sector in both scale and capability.
With integration plans underway and transatlantic regulatory hurdles nearly cleared, DSV is poised to redefine freight forwarding on a global scale.
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