Danish transport and logistics company DSV will acquire German rail group Deutsche Bahn’s logistics subsidiary DB Schenker for £14.3 billion, writes Chris Tindall.
The agreement is subject to final approval by DB’s supervisory board and the German government and is expected to be completed in 2025.
Richard Lutz, CEO of DB, 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.
“In line with our strong rail strategy, we are focusing our business on rail infrastructure in Germany that serves the common good as well as on climate-friendly passenger and freight transport in Germany and Europe.
“At the same time, reducing debt will make a substantial contribution to the group’s financial sustainability.”
DSV Group CEO Jens H. Lund said it had a clear plan for becoming one of the world’s leading transport and logistics companies: “Hand in hand and under one roof, the employees of DSV and Schenker will combine our strengths to create a true global leader in the industry,” he said.
“This strategic combination with significant investments in competitiveness will ensure long-term growth and create sustainable jobs in Germany.”
