Danish logistics firm DSV has agreed to purchase Schenker, the logistics unit of German state railway Deutsche Bahn, in a deal valued at €14.3bn. This acquisition, the largest in DB’s history, will make DSV the world’s largest logistics company with a combined revenue of €39.26bn and over 147,000 employees across 90 countries. The deal is set to be financed through a share sale of up to €5bn and debt financing. DB CEO Richard Lutz expressed the importance of finding a strong partner for Schenker, providing clear growth prospects for the subsidiary.
While private equity firm CVC Capital Partners also bid for Schenker with a proposal that would have allowed DB to retain a stake, DSV was ultimately chosen as the buyer. DSV plans to eliminate between 1,600 and 1,900 positions from Schenker’s German workforce of 15,000 but aims to increase employee numbers over a five-year period, surpassing current levels. The merged company also plans to provide an extra €10m in compensation to unions to ease concerns about job cuts. The deal is expected to be finalized in the second quarter of 2025 pending regulatory approval from Deutsche Bahn’s supervisory board and the German transport ministry.
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