In September, it was announced that the Danish DSV Group was in the running for Deutsche Bahn AG’s logistics subsidiary DB Schenker. The Supervisory Board has now given its approval.
The DB Schenker sale was approved at an extraordinary meeting today. At the same time, the federal government, as the 100% shareholder of Deutsche Bahn, has granted the “approval required for the transaction in accordance with the Federal Budget Code (BHO)”, the Group announced.
The sale is expected to be completed in the course of 2025 once all regulatory approvals have been obtained. The Danes have been the favorite to win the bid for some time.
On September 13, the Management Board of DB AG signed an agreement to sell its logistics subsidiary to DSV for an enterprise value of €14.3 billion. Including the expected interest income until completion, the total sales value is expected to be up to €14.8 billion.
Sale of DB Schenker is a milestone for Deutsche Bahn
“The sale of DB Schenker is an important milestone for DB in order to focus consistently on the renovation of the rail infrastructure in Germany and the operation of climate-friendly passenger and freight transport in Germany and Europe,” explained Werner Gatzer, Chairman of the DB Supervisory Board.
“We have formulated clear goals to structurally restructure the railroad in the areas of infrastructure, operations and profitability and to focus on our core business. The proceeds from the sale will significantly reduce DB’s debt and make an important contribution to the financial stability of the DB Group. At the same time, Schenker will gain a strong strategic owner in DSV,” said DB CEO Richard Lutz.
In December 2023, DB launched an “open, transparent and non-discriminatory process” for the sale of DB Schenker in accordance with EU law. DSV reportedly prevailed with the offer that was clearly the most economically advantageous for Deutsche Bahn.
DB Schenker, with its approximately 72,700 employees at over 1,850 locations in more than 130 countries, will be able to develop further in future in association with DSV. Planned investments of around one billion euros in the coming years are intended to promote additional growth potential. DSV has made a clear commitment to German co-determination and to existing collective agreements and works agreements. Together, the aim is to create one of the world’s leading transportation and logistics companies.
