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Agility concludes sale of GIL business to Danish firm for nearly $5bn

Agility concludes sale of GIL business to Danish firm for nearly $5bn
Agility will acquire 19.3 million shares in DSV Panalpina
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Mubasher: Agility Public Warehousing is expected to finalise the sale of its Global Integrated Logistics (GIL) business to Denmark’s DSV Panalpina on 16 August.

The enterprise value of the transaction stands at $4.775 billion and the equity value is $4.675 billion, according to a press release on Monday.

Agility will acquire 19.3 million shares in DSV Panalpina upon full completion of the deal. This represents nearly 8% of all post-transaction shares of DSV. In addition, the Kuwaiti company will receive a seat in DSV’s board.

Agility Vice Chairman and CEO, Tarek Sultan, said: “This deal affirms Agility’s global strategy and execution, and positions us for a new era of growth.”

He added, “We will accelerate growth in the businesses we continue to operate, which historically account for around 80% of our EBIT”

Over the past ten years, Agility created almost $7 billion in value for shareholders, increasing it five fold since 2011, according to Sultan.

It is worth noting that Agility is also listed on the Dubai Financial Market (DFM).