Danish transport giant DSV will launch a significant bond sale by the end of 2024 to fund the acquisition of DB Schenker, the logistics division of Deutsche Bahn, for €14.3 billion. The transaction, set to be completed in 2025, will make DSV the world's largest freight forwarder, surpassing its key competitors in the industry. This was announced by the company's Chief Financial Officer, Michael Ebbe, during an interview with Bloomberg, noting that DSV intends to finance the acquisition using three instruments: equity, bonds, and bank debt.
As of October 2025, DSV has already raised €5 billion in equity, leaving a funding gap of between €6 and €9 billion to be filled through bonds and bank loans. "We are not yet entirely certain about the exact split between bonds and bank debt, but we aim for the majority of the remaining amount to come from bonds," added the CFO. The company expects to maintain its current credit ratings with the planned financing structure.
