GERMANY: Deutsche Bahn’s planned sale of the Schenker land, air and maritime logistics business to Danish transport group DSV was approved by both the DB supervisory board and the federal government on October 2.
The sale forms part of DB’s ‘Strong Rail’ strategy of focusing on core activities, and does not include the DB Cargo rail freight business.
The transaction is expected to be completed during 2025 once all regulatory approvals have been obtained. The total sales value is expected to be up to €14·8bn including interest income until closing, with the proceeds to be retained within DB and used to significantly reduce its debt.
‘The sale of DB Schenker marks an important milestone for DB in its efforts to fully focus on restructuring the rail infrastructure in Germany and providing climate-friendly passenger and freight transport operations in Germany and Europe’, said Chairman of the supervisory board Werner Gatzer.
DB CEO Dr Richard Lutz said ‘we have set clear goals to structurally modernise Deutsche Bahn in the areas of infrastructure, operations and profitability and focus on the core business. The proceeds from the sale will significantly reduce DB’s debt and thus make an important contribution to the financial stability of the DB Group. At the same time, DB Schenker will gain a strong strategic owner in DSV.’
