The Danish-based transport company DSV has purchased the remaining 67 percent of shares in the DSV Swift Group in Africa.
The takeover – the cost of which is still unknown – will come into effect as of July 1 and will give DSV full ownership of DSV Swift in 12 African nations.
“For the past nearly two years, DSV has gained a lot of experience in the African transport market,” Jens Bjørn Andersen, the head of DSV, said in a press release. “So far we like what we see, and that is why we are taking this step to increase our focus and commitment in Africa even more.”
Initially involved in 2012
DSV Swift, which primarily focuses on air and sea freight, has a comprehensive network on the African continent and covers South Africa, Mozambique, Zambia, DR Congo, Tanzania, Rwanda, Burundi, Uganda, Kenya, Ethiopia, Nigeria, Ghana, Togo, Morocco and Egypt.
DSV initially acquired 33 percent of the assets from Dubai-based Swift Freight in 2012 in a deal that also included taking over 100 percent of the Dubai-based company’s assets in the United Arab Emirates, China and India.
At that time the African network only included three nations.