DSV has signed an agreement to purchase the remaining 60% of the shares in DSV-GL Latin America S.A. from its Joint Venture partner LOS INKAS S.A.
DSV-GL Latin America offers integrated freight forwarding and logistics services to its customers in Argentina, Chile and Peru under the DSV-GL Brand name. The three DSV-GL affiliates generated revenue of 32 million USD in 2011 and will be fully owned by the DSV Group going forward.
LOS INKAS and DSV established the Joint Venture in March 2009.
“With this acquisition, which follows the opening of DSV Air & Sea Logistica Ltda in Brazil earlier this year, we are closer to the target of establishing a DSV Air & Sea network in Latin America. This will enable us to capitalize on the growth opportunities offered by the Latin American markets. The new Latin American activities complement the existing DSV network and will further increase our service offerings to our global customers,” says Jens Bjorn Andersen, DSV Group CEO.
The parties have agreed not to disclose the transaction price.
Questions may be addressed to Flemming Nielsen, Investor Relations Manager, on telephone +45 43 20 30 40.