Denmark's DSV secures Deutsche Bahn unit despite union resistance

DSV will become the world's largest logistics company thanks to the acquisition.

Transcript

00:00Danish firm DSV has secured a deal to buy Schenker, the logistics unit of German state

00:07railway Deutsche Bahn.

00:09The deal, signed on Friday, is worth more than 14 billion euros.

00:14The announcement marks the largest sale in DB's history and will make DSV the world's

00:18biggest logistics firm.

00:20We have now managed to create a world-leading company in our field.

00:26What we are very proud of is the ownership, which goes all the way back to the beginning.

00:31DSV's chief financial officer told Reuters it planned to axe between 1,600 and 1,900

00:38jobs from Schenker's German workforce of 15,000.

00:42However, he said the merged firm will build up employees over five years so that German

00:48staff numbers will exceed current levels.

00:52The deal is expected to be closed in the second quarter of 2025 subject to regulatory approval.