Denmark-based DSV A/S gets CCI approval to acquire Schenker for 14.3 bn euro

New Delhi: The Competition Commission of India (CCI) on Tuesday granted its clearance to Danish transport and logistics group DSV A/S's proposal to acquire Schenker for 14.3 billion euro.

DSV Holding Germany GmbH (DSV Germany) is the acquisition vehicle and is wholly owned by global asset-light freight forwarding and logistics company DSV A/S.

The company provides and manages supply chain solutions in India as well.

"The proposed combination pertains to the acquisition by DSV Germany of 100 per cent of the shares in and sole control over Schenker from Deutsche Bahn Aktiengesellschaft (the seller)," the CCI said in a release.

Schenker is a logistics company, while DB Schenker India offers international air & ocean freight services as well as integrated logistics services.

Deutsche Bahn (DB) is the parent company of DB Group. It was founded in 1994 and is wholly owned by the German government.

In September this year, DSV announced that it has signed an agreement to acquire Schenker from Deutsche Bahn for 14.3 billion euro.

The deals beyond a certain threshold require approval from the fair trade regulator, which keeps a tab on unfair business practices as well as promotes fair competition in the marketplace.