Deutsche Bahn has launched the sale process for DB Schenker, after it agreed to the sale of its freight forwarding subsidiary late in 2022.
Deutsche Bhan said that the process would be “open and non-discriminatory” and the condition for the sale is that it must have “apparent economic advantages for Deutsche Bahn in all respects”. The German national railway company said that it will retain all proceeds from the sale, a large part of which will be used to reduce debt, while the sale will allow it to increase focus on its core rail business.
“Deutsche Bahn has already completed or contractually agreed the sale of several of its business units in foreign markets and would be taking another big step by letting go of DB Schenker. Our goal is to serve the climate, people and the economy by substantially increasing the cargo and passenger volumes handled by eco-friendly rail services,” said the statement.
In December 2022, the supervisory board of Deutsche Bahn assigned its management board with the task of examining the case and preparing for a potential sale of its entire shares in DB Schenker.
The final decision on a sale of DB Schenker will be based on a separate resolution adopted by the supervisory board of Deutsche Bahn at the end of the sale process. The process is also subject to general capital market developments.
Deutsche Bahn stated that, compared other its competitors, DB Schenker has a strong position in all the relevant industry sectors – land, air and ocean freight – and in comprehensive and specialised logistics solutions. The subsidiary has some 76,600 employees at over 1,850 locations in more than 130 countries.
