DSV signed an agreement to acquire its exclusive agent in Colombia, Airmar Cargo S.A. This transaction will strengthen DSV's foothold in the South American market, by adding 60 employees and 4 branches (in Bogotá, Medellin, Cali and Cartagena) to its network. By entering the Colombian market, DSV is now present in 75 countries globally.
Airmar Cargo S.A. was founded in 1997 in Bogotá. It is the leader in the seafreight forwarding export market from Colombia to the Central American and Caribbean countries and DSV's exclusive agent since 2009. It achieved in 2012 a gross turnover of 8 million USD.
This transaction marks another step in DSV's expansion in Latin America, following the incorporation of a fully-owned subsidiary in Brazil in early 2012 and the acquisition of the full ownership of its former Joint-Venture companies in Chile, Peru and Argentina in November 2012.
"It makes perfect sense for DSV to be present in Colombia, which has the third largest population in Latin America after Brazil and Mexico, and which it is the fourth largest economy in the region. It is also for us a stepping stone into Central America. We know Airmar Cargo and the quality of their service since many years and are very happy to bring their very professional team on board of the DSV group" says Jens Bjørn Andersen, DSV Group CEO.
The transaction, which takes the form of an asset deal, has been submitted to Colombian competition authorities and is expected to close around 1st of September 2013. The parties have agreed not to disclose the transaction price.
Questions may be addressed to Flemming Ole Nielsen, Investor Relations Director, on tel. +45 43 20 30 40.
Yours sincerely,
DSV A/S