DB Management Board signs agreement to sell DB Schenker to DSV
NewsThe Management Board of Deutsche Bahn signed an agreement to sell its subsidiary DB Schenker to Danish company DSV for € 14.3 billion.
DSV wins bid to acquire DB Schenker
DSV has won the bid to acquire DB Schenker for €14b, making it the world’s largest freight forwarder, pending DB’s board approval.
Danish logistics giant DSV has secured the bid to acquire DB Schenker, the rail logistics division of Deutsche Bahn (DB), for around €14b. According to Reuters, sources within the DB railway sector and the German government disclosed this information.
The acquisition, pending approval from DB’s supervisory board, will make DSV the world’s largest freight forwarder.
CVC, the other finalist in the race, had also submitted a strong bid but was ultimately outbid by DSV. Union representatives, concerned about potential job cuts, had backed CVC’s offer. DSV, known for reducing workforce after acquisitions, faces criticism for its potential impact on Schenker’s 15,000 German employees.
Deutsche Bahn is selling Schenker to fund its struggling domestic passenger operations and reduce its €30b debt. DSV’s acquisition follows its recent expansions, including the purchase of UTi, Panalpina, and GIL, further cementing its dominance in global logistics.
While CVC offered additional incentives, DSV’s strategic plan to invest €1b in Schenker’s profitability post-takeover gave it the winning edge. The final deal is expected to be formalised in the coming days.