DSV Air & Sea takes full control of Indian unit

DSV Air & Sea Holding A/S, part of Danish transport and logistics group DSV, has acquired full ownership of Indian joint venture DSV Air & Sea Pvt. Ltd., purchasing remaining 28 percent shareholding from Seabridge Maritime Agencies. Financial details were not made public.

The acquisition has taken place as part of the efforts of the DSV Group to further strengthen its presence in India and thereby obtain an increased share of the growth in Asia and Oceania, DSV said.

The budgeted revenue of DSV Air & Sea Pvt. Ltd. for 2008 is 140 million Danish krone ($29.3 million). The company has 86 employees working at the four locations in India. 

Source: American Shipper