GERMANY: ‘Today we completed the largest corporate transaction in the history of Deutsche Bahn and the logistics industry’, DB CEO Dr Richard Lutz said when the sale of the DB Schenker global logistics business to Danish group DSV was finalised on April 30.
Lutz said the sale of the land, air and maritime logistics group would ’reduce complexity for DB and allow us to fully focus on our core business’.
The sale forms part of DB’s Starker Schiene (‘strong rail’) strategy of focusing on its German rail-related activities, and the DB Cargo rail freight business is not part of the divestment. As part of the same strategy, DB sold international transport operating business Arriva to I Squared Capital in June 2024.
The Schenker deal has an enterprise value of €14·3bn, with DB to retain all proceeds which will ‘substantially reduce’ its debt.
Lutz said ‘over the next three years, we will turn our infrastructure, rail operations and profitability around. The acquisition by DSV will give DB Schenker a new owner that promises a unique market position and opportunities for international growth.’
A potential sale of Schenker had been contemplated for some years before the process was launched in December 2023. DB selected DSV’s offer as the most economically advantageous, and a purchase agreement was signed in September 2024, with completion subject to various regulatory approvals.
DSV Group CEO Jens H Lund said ‘with this acquisition, we become a world-leading player in global transport and logistics, at a time when global supply chains are more in focus than ever before, and our customers need a reliable and agile global network of services and products. By combining the two companies, we will create a unique flexible platform for long-term financial growth to the benefit of our customers, employees, shareholders and other stakeholders.’
