Pursuant to the public exchange offer, Panalpina shareholders received 2.375 DSV shares (listed at NASDAQ Copenhagen) for each Panalpina share. As a consequence of the successful completion of the public exchange offer, the Panalpina shares will be delisted and the remaining 1.56% untendered Panalpina shares will be cancelled in accordance with a customary squeeze-out procedure.

Schellenberg Wittmer acted as legal advisor to Panalpina and its board of directors. The core team included Martin Weber, Lorenzo Olgiati, Pascal Hubli, Christian Bonhôte and Karin Mülchi (all Corporate/M&A), David Mamane, Amalie Wijesundera and Eva Peter (all Competition) and Michael Hess (Employment).