Danish logistics giant DSV has emerged as the winning bidder to acquire DB Schenker, the logistics arm of Deutsche Bahn, in a landmark deal valued at $15.4 billion. This acquisition, pending final approval, will position DSV as the largest freight forwarder globally, overtaking its Swiss rival Kuehne + Nagel.
The agreement awaits the nod from Deutsche Bahn’s supervisory board, which includes representatives from the government, unions, and parliament, with a decision expected soon. The sale of Schenker, Deutsche Bahn’s most profitable division, is part of a strategic move to raise funds for its domestic passenger services and alleviate its $32 billion debt.
CVC, the other final bidder, had proposed a deal allowing Deutsche Bahn to retain a minority stake in Schenker. However, DSV’s higher offer, coupled with a commitment to invest $1 billion to enhance Schenker’s profitability, swayed the decision in its favor. While union representatives had supported CVC’s bid due to concerns about potential job losses under DSV, the German government, as Deutsche Bahn’s owner, ultimately backed DSV’s proposal.
