ZURICH: Kuwait-based Agility Group is talking to Panalpina over a tie-up that complicates Danish rival DSV’s $4 billion bid for the Swiss logistics group that is being fought by Panalpina’s biggest shareholder.
Panalpina and Agility said on Friday that they were discussing how the two companies’ logistics operations could work together. Agility, with 22,000 employees and $4.6 billion in annual revenue, has been expanding globally under managing director Tarek Sultan.
Panalpina added that it was still reviewing the DSV proposal “according to its fiduciary duties.”
The entry of Agility into the fray provides the Swiss company with an alternative to DSV’s offer. The Ernst Goehner Foundation, which owns 46 percent of Panalpina, has said it wants the company to be an industry consolidator, not prey for a rival.
Panalpina “is in discussions with Agility Group on potential strategic opportunities with regard to their respective logistics businesses,” Panalpina’s board of directors said in a statement. “The discussions between the two companies are at a preliminary stage.”
Agility said in a statement on its website it was “always exploring opportunities to grow” but that there are no guarantees a deal will be reached.
A rival proposal could force DSV Chief Executive Jens Bjorn Andersen to sweeten his cash-and-shares offer for Panalpina. Andersen, who said last week he remains in pursuit of a deal, has faced hurdles in Switzerland as he seeks to grow DSV’s footprint, having failed last year in his $1.55 billion bid for Swiss freight forwarder CEVA Logistics.
An analyst from Baader Helvea said Agility’s entry shows Panalpina is looking for other options beyond DSV. “We see this as another indication that the main Panalpina shareholder will not accept the current offer from DSV,” wrote Christian Obst in a note to investors.
Panalpina shares were indicated 1.7 percent lower in pre-market activity after closing on Thursday at 149 Swiss francs ($148), below the DSV offer worth about 170 francs per share.
The 20 largest freight forwarders control only about a third of the market, making the industry potentially ripe for takeovers or partnerships.
Kuwait’s Agility enters fray for logistics group Panalpina
Kuwait’s Agility enters fray for logistics group Panalpina
- Panalpina and Agility said that they were discussing how the two companies’ logistics operations could work together
- The entry of Agility into the fray provides the Swiss company with an alternative to DSV’s offer
First EU–Saudi roundtable on critical raw materials reflects shared policy commitment
RIYADH: The EU–Saudi Arabia Business and Investment Dialogue on Advancing Critical Raw Materials Value Chains, held in Riyadh as part of the Future Minerals Forum, brought together senior policymakers, industry leaders, and investors to advance strategic cooperation across critical raw materials value chains.
Organized under a Team Europe approach by the EU–GCC Cooperation on Green Transition Project, in coordination with the EU Delegation to Saudi Arabia, the European Chamber of Commerce in the Kingdom and in close cooperation with FMF, the dialogue provided a high-level platform to explore European actions under the EU Critical Raw Materials Act and ResourceEU alongside the Kingdom’s aspirations for minerals, industrial, and investment priorities.
This is in line with Saudi Vision 2030 and broader regional ambitions across the GCC, MENA, and Africa.
ResourceEU is the EU’s new strategic action plan, launched in late 2025, to secure a reliable supply of critical raw materials like lithium, rare earths, and cobalt, reducing dependency on single suppliers, such as China, by boosting domestic extraction, processing, recycling, stockpiling, and strategic partnerships with resource-rich nations.
The first ever EU–Saudi roundtable on critical raw materials was opened by the bloc’s Ambassador to the Kingdom, Christophe Farnaud, together with Saudi Deputy Minister for Mining Development Turki Al-Babtain, turning policy alignment into concrete cooperation.
Farnaud underlined the central role of international cooperation in the implementation of the EU’s critical raw materials policy framework.
“As the European Union advances the implementation of its Critical Raw Materials policy, international cooperation is indispensable to building secure, diversified, and sustainable value chains. Saudi Arabia is a key partner in this effort. This dialogue reflects our shared commitment to translate policy alignment into concrete business and investment cooperation that supports the green and digital transitions,” said the ambassador.
Discussions focused on strengthening resilient, diversified, and responsible CRM supply chains that are essential to the green and digital transitions.
Participants explored concrete opportunities for EU–Saudi cooperation across the full value chain, including exploration, mining, and processing and refining, as well as recycling, downstream manufacturing, and the mobilization of private investment and sustainable finance, underpinned by high environmental, social, and governance standards.
From the Saudi side, the dialogue was framed as a key contribution to the Kingdom’s industrial transformation and long-term economic diversification agenda under Vision 2030, with a strong focus on responsible resource development and global market integration.
“Developing globally competitive mineral hubs and sustainable value chains is a central pillar of Saudi Vision 2030 and the Kingdom’s industrial transformation. Our engagement with the European Union through this dialogue to strengthen upstream and downstream integration, attract high-quality investment, and advance responsible mining and processing. Enhanced cooperation with the EU, capitalizing on the demand dynamics of the EU Critical Raw Materials Act, will be key to delivering long-term value for both sides,” said Al-Babtain.
Valere Moutarlier, deputy director-general for European industry decarbonization, and directorate-general for the internal market, industry, entrepreneurship and SMEs at European Commission, said the EU Critical Raw Materials Act and ResourceEU provided a clear framework to strengthen Europe’s resilience while deepening its cooperation with international partners.
“Cooperation with Saudi Arabia is essential to advancing secure, sustainable, and diversified critical raw materials value chains. Dialogues such as this play a key role in translating policy ambitions into concrete industrial and investment cooperation,” she added.
