GERMANY: Deutsche Bahn has begun the process of selling its logistics and road haulage subsidiary DB Schenker. This follows a decision by DB’s supervisory board in December 2022 to authorise its management board to prepare for a sale of all DB Schenker shares. A condition of the sale is that it must offer ‘apparent economic advantages for Deutsche Bahn in all respects’.
DB Group will retain all proceeds from a sale, much of which will be used to reduce the group’s debt — net financial debt stood at €30·3bn on June 30 2023. DB Schenker has ‘contributed very positively to the DB Group’s economic growth over the years’, the company added.
The sale of Schenker would ‘significantly accelerate DB’s focus on its core business’ and the implementation of the group’s so-called ‘Starke Schiene’ (strong rail) strategy. DB Schenker has 76 600 employees at over 1 850 locations in more than 130 countries and holds ‘a strong position in all the relevant industry sectors — land, air and ocean freight — and in comprehensive and specialised logistics solutions’.
The sale process will be open and non-discriminatory, DB said, noting that DB Schenker is ‘one of the world’s top four logistics companies’ operating in a market that ‘offers excellent prospects for long-term growth’.
