The supervisory board of Deutsche Bahn approved the sale of DB Schenker to the Danish logistics firm DSV at an extraordinary meeting today.
At the same time, the federal government granted the approval required for the transaction under the Federal Budget Code (BHO). The sale is expected to be completed in the course of 2025 once all regulatory approvals have been obtained.
In December 2023, DB launched an open, transparent and non-discriminatory process for the sale of DB Schenker in accordance with EU law. As a result, DSV has prevailed with clearly the most economically advantageous offer for Deutsche Bahn, said the company.
On September 30, HLPFI reported that German railway and transport union EVG was reportedly planning to vote against the sale of DB Schenker to DSV over job losses.
The deal is valued at EUR14.3 billion (USD15.3 billion). At the time the deal was announced, DSV and Schenker said they would have an expected pro forma revenue of approximately EUR39.3 billion (USD43.6 billion), based on 2023 numbers, and a combined workforce of around 147,000 employees across 90 countries. Richard Lutz, ceo, Deutsche Bahn said: The sale of DB Schenker to DSV marks the largest transaction in DB’s history and provides our logistics subsidiary with clear growth prospects. It has been important for us to find a strong partner for Schenker and a long-term home for the employees of the company.”
