Germany’s national rail operator, Deutsche Bahn, has entered the final round of the sale process for its logistics subsidiary, Schenker. The shortlisted bidders include industry heavyweights Maersk, DSV, Bahri, and a consortium featuring CVC, ADIA, and GIC. This selection was confirmed by three sources familiar with the matter, following an earlier report by Reuters last Friday, which disclosed that four final bidders had been shortlisted without revealing their names.
According to two of these sources, Deutsche Bahn is set to collect final bids for Schenker in July. Notably, representatives from DSV, CVC, ADIA, GIC, and Maersk all declined to comment on the matter. Bahri, Saudi Arabia’s national shipping carrier, was also not immediately available for comment.
Deutsche Bahn’s spokesperson stated, “After intensive evaluation of the now confirmed, non-binding offers for DB Schenker, we have selected the bidders with whom we will move into the next phase of the sales process.” They further elaborated, “In the coming weeks, these bidders will have the opportunity to make binding offers for DB Schenker as part of a detailed examination. The entire process is going according to plan.”
Last week’s bids for Schenker reportedly ranged from 14 billion to over 15 billion euros ($16.21 billion). These proceeds are crucial for Deutsche Bahn, aiming to reduce its debt, currently around 34 billion euros. The company anticipates finalizing an agreement with the successful buyer by the end of the year, with the sale expected to be completed in 2025.
Schenker is a significant asset with a global workforce of over 70,000 employees, including around 15,000 in Germany alone, and operations in approximately 130 countries worldwide. This extensive reach and scale underscore the strategic importance of Schenker within the logistics and freight industry.
The next few weeks will be pivotal as the shortlisted bidders prepare their binding offers. The outcome of this sale could potentially reshape the landscape of the global logistics industry, depending on who ultimately acquires Schenker.
Source:reuters
