Danish transport and logistics group DSV Panalpina said Tuesday it would acquire Global Integrated Logistics (GIL) from Kuwait's Agility for $4.2 billion, making it one of the world's largest companies in the sector. The deal comes as growing demand for global freight causes bottlenecks in supply chains and sends prices soaring. Two years after it acquired its Swiss rival Panalpina, DSV said its latest acquisition would make it the world's "third largest transport and logistics company". Combined revenue would rise around 23 percent, to 142 billion Danish kroner ($22 billion), it added. It said its combined workforce would total more than 70,000 employees. DSV Panalpina's largest division, Air & Sea, would be particularly bolstered by the purchase, transporting close to 2.8 million containers and more than 1.6 million tonnes of air freight annually. The group said the acquisition would also increase its warehousing capacity -- critical to limit the effects of bottlenecks -- by more than 1.4 million square metres (15 million square feet). The transaction is due to be finalised in the third quarter of 2021. Founded in Denmark in 1976, DSV was until now the fifth-largest transport and logistics group, behind world leaders such as Kuehne + Nagel and DHL. cbw/po/tgb