DSV Air & Sea Holding A/S ("DSV") sets up business in South Africa through the establishment of a subsidiary.
Today the subsidiary has concluded an agreement on the acquisition of the business activities of Transmedit Forwarding (Proprietary) Ltd., which currently is agent for DSV in South Africa. The transaction is subject to certain conditions, which are expected to be fulfilled before 1 December 2010.
The parties have agreed not to disclose the acquisition price.
As a consequence of this transaction, DSV will have its own presence in South Africa with about 30 employees and offices in Johannesburg and Cape Town, which will strengthen the global network of DSV.