DSV Panalpina A/S (CPSE:DSV) agreed to acquire Agility Global Integrated Logistics from Agility Public Warehousing Company K.S.C.P. (KWSE:AGLTY) for $4 billion on April 27, 2021. Under the terms DSV Panalpina A/S will issue 19,304,348 shares as consideration. This will represent approximately 8% of all post-transaction outstanding shares of DSV. The share issue will be according to existing authorizations given to DSV's Board of Directors. The acquisition will be an all-share transaction. In 2020, GIL had $4 billion in revenue, adjusted EBITDA of $257 million, and adjusted EBIT of $129 million. The transaction is subject to regulatory approvals, European Commission approval and approval by Agility's shareholders. As of May 24, 2021, the transaction has been approved the board of Agility Public Warehousing Company. As of August 8, 2021 European Commission approved the deal. After completion of the transaction, DSV has agreed to nominate an Agility designee to DSV's Board of Directors. The transaction is expected to close is expected in the third quarter of 2021. Denis Klimentchenko, Frederic Depoortere,Helena Derbyshire, Alec Jarvis, Alex Jupp, Michael Leiter and Bruce Embley of Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor to DSV Panalpina A/S. Morgan Stanley is acting as financial advisor to Agility Global Integrated Logistics. Michael Bond and Richard Butterwick of Latham & Watkins (London) LLP acted as legal advisor to Agility Public Warehousing Company K.S.C.P. J.P. Morgan acted as financial advisor for DSV Panalpina A/S. Michael Schouten and Martin van Olffen of De Brauw Blackstone Westbroek N.V. acted as legal advisors to DSV Panalpina A/S (CPSE:DSV). Moalem Weitemeyer and Al Tamimi & Company acted as legal advisors to DSV Panalpina. Loyens & Loeff advised in the transaction.

DSV Panalpina A/S (CPSE:DSV) completed the acquisition of Agility Global Integrated Logistics from Agility Public Warehousing Company K.S.C.P. (KWSE:AGLTY) August 16, 2021. Agility Global Integrated Logistics will be included in the consolidated financial results of DSV as of August 16, 2021. All conditions precedent to the transaction has been fulfilled. The transaction is expected to be EPS accretive (diluted and adjusted) by 2022.