DSV Panalpina acquires Agility's commercial cargo division

DSV Panalpina has announced the acquisition of Agility Global Integrated Logistics (Agility GIL), the general commercial cargo division of Middle Eastern logistics giant Agility. The purchase price is $4.2 billion. Combined with the performance of Agility GIL, DSV Panalpina's business scale will expand to approximately 22 billion dollars in sales and more than 70,000 employees, making it the world's third largest 3PL company by sales, surpassing DB Schenker. The company will handle more than 1.6 million metric tons of air cargo and 2.8 million metric tons of ocean cargo, putting it on a par with DHL Global Forwarding, the world's second largest forwarder.