DSV completes acquisition of Panalpina
Yesterday, 19 August 2019, DSV completed all transactions with regard to the previously announced public exchange offer for all publicly held shares of Panalpina. Pending the approval at an extraordinary general meeting, DSV will change its registered name to “DSV Panalpin”. As the integration progresses, all subsidiaries and operational activities will be united under the DSV name and brand.
With the conclusion of the settlement, the announced board changes in Panalpina will come into effect with Kurt Kokhauge Larsen as chairman and Jens Bjørn Andersen, Jens H. Lund and Thomas Stig Plenborg as members of the Panalpina board and giving DSV full control over Panalpina.
DSV intends to have Panalpina appoint Jens Bjørn Andersen and Jens H. Lund as CEO and CFO, respectively, of Panalpina, to take over from Stefan Karlen and Robert Erni, respectively. Karlen and Erni will continue to serve as members of the integration committee, with Andersen and Lund. (mw)