UTi Worldwide Inc. acquired by global transport company

International logistics supplier UTi Wolrdwide Inc., incorporated in the British Virgin Islands, has been purchased by global transport and logistics company DSC A/S, listed on NASDAQ Copenhagen. The transaction has been completed on January 22 with the approval of UTi shareholders and competition authorities. Upon the acquisition, which adds approximately 50 per cent to DSV’s existing revenue, the company will become the fourth largest freight forwarder in the world. Also, the deal will add geography diversification to the company, and help in creating one of the world’s strongest transport and logistics networks. Further on, the commercial activities of DSV and UTi will continue under the DSV brand.

Some days earlier, UTi Worldwide Inc. received antitrust approval in South Africa, which was the final required regulatory approval needed for the consummation of the acquisition transaction. Under the terms of the transaction, each ordinary share of UTi Worldwide will be converted into the right to receive cash payment of US$7.10, without interest.