1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
72
73
74
75
76
77
78
79
80
81
82
83
84
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
100
101
102
103
104
105
106
107
108
109
110
111
112
113
114
115
116
117
118
119
120
121
122
123
124
125
126
127
128
129
130
131
132
133
134
135
136
137
138
139
140
141
142
143
144
145
146
147
148
149
150
151
152
153
154
155
156
157
158
159
160
161
162
163
164
165
166
167
168
169
170
171
172
173
174
175
176
177
178
179
180
181
182
183
184 
DSV snaps up Frans Maas
Page 7
If you've noticed an error in this article please click here to report it so we can fix it.
DANIS H-BASED company DSV is to create a European transport giant by taking over Dutch-based Frans Maas. The move is being described as a merger but DSV is buying Maas and will delist the company from the Amsterdam stock exchange. DSV, which operates as DFDS, is listed on the Copenhagen exchange.
DSV is paying €38 per share for Maas, valuing it at €225m. Last year Maas made €1 .2m profit on a turnover of €1.1 bn.
The combined companies will have annual revenue of more than €4bn with 19.000 employees in over 50 countries. In the UK, DFDS employs 1,000 people in road transport and Maas about the same.
No redundancies have been announced, but the combined company is hound to consider cuts to eliminate overlap.
It is also unclear what the merged company will be called. Kurt Larsen, chief executive of DSV, says: "We acknowledge the strength of the Frans Maas brand and will consider how we can utilise this in solving our current branding dilemma."