The Supervisory Board of Deutsche Bahn AG approved the sale of DB Schenker to the Danish transport and logistics group DSV in an extraordinary meeting on Wednesday.
At the same time, the federal government granted the approval required for the transaction under the Federal Budget Code (BHO). The sale is expected to be completed in the course of 2025 after all regulatory approvals have been received.
Total sale value up to EUR 14.3 billion
On September 13, 2024, the Board of Management of DB AG signed a contract to sell its logistics subsidiary to DSV for an enterprise value of EUR 14.3 billion. Including the expected interest income until completion, this results in a total sales value of up to EUR 14.8 billion.
“The sale of DB Schenker is an important milestone for DB in order to consistently concentrate on the renovation of the domestic rail infrastructure and the operation of climate-friendly passenger and freight transport in Germany and Europe,” explained DB Supervisory Board Chairman Werner Gatzer.
“We have formulated clear goals to structurally restructure the railway in the areas of infrastructure, operations and profitability and to focus on the 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 is gaining a strong strategic owner in DSV,” said DB CEO Dr. Richard Lutz.
In December 2023, DB started an open, transparent and non-discriminatory process to sell DB Schenker in accordance with the requirements of EU law. DSV 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 continue to develop in conjunction with DSV. Planned investments of around EUR 1 billion 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 transport and logistics companies.
DB Schenker is one of the world’s leading logistics service providers. The company offers land transport, air and sea freight as well as comprehensive logistics solutions and global supply chain management from a single source.
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