The European Commission announced yesterday that it had approved the transaction, stating that it did not pose any competition concerns.
“The transaction does not raise concerns given the fragmented nature of these markets and the existence of many alternative providers to which customers could switch after its completion,” the EC said in a statement.
Recall that DSV announced its intention to take over DB Schenker in September last year.
The combined group, which will compete with DHL Logistics and Switzerland’s Kuehne + Nagel, among others, is opening a new chapter in the logistics industry. Despite the scale of its operations, the new entity will have only a 6–7 per cent share of the global, highly fragmented logistics market.
The merger still requires approval from US competition authorities. DSV said last month that it expected to close the deal in the second quarter of this year.
