GERMANY: Details of Deutsche Bahn's future structure were agreed at an extraordinary meeting of the company's supervisory board held on May 15.
To permit sale to the private sector of an initial 24·9% stake, the transport businesses are being moved into DB Mobility Logistics AG (below), which already groups the freight businesses previously known as Railion, Schenker and Stinnes. The companies responsible for infrastructure, stations and power supply will remain in the holding company DB AG, which will be 100% owned by the German state.
The new structure is due to take ?effect on or close to June 1. According to DB AG Chairman Hartmut Mehdorn, the 'speedy decision' taken on May 15 'means that we are on target for a stock market listing in the autumn'. This will meet the government's wish to have the sale out of the way well before the general election which is due in September 2009.
DB's restructuring follows the German cabinet's endorsement on April 30 of privatisation plans which were based on a compromise struck on April 13 between the two parties in the coalition government (RG 5.08 p289).
In an April 30 statement Federal Transport Minister Wolfgang Tiefensee emphasised that privatisation will help secure funds for DB's 'huge investment needs', although we understand that one-third of the proceeds will be destined for government coffers.
DB Mobility Logistics AG
DB Fernverkehr AG
DB Regio AG
DB Stadtverkehr GmbH
DB Vertrieb GmbH
DB Dienstleistungen GmbH
DB (UK) Logistics Holdings Ltd
DB Automotive Rail (Spain) SL
DB Gastronomie GmbH
DB Magnetbahn GmbH
