Deutsche Bahn (DB) has completed the sale of its logistics subsidiary, DB Schenker, to Danish transport and logistics company DSV for an enterprise value of 14.3 billion EUR.
The transaction, described by DB as the largest in its corporate history, marks a strategic shift for the German railway group as it refocuses on its core rail operations.
The sale was conducted through a competitive, EU-compliant process that began in December 2023. DSV’s offer was selected based on its financial terms. Final regulatory approval was secured in recent weeks from both EU and US antitrust authorities, enabling the completion of the deal ahead of the original schedule.
Proceeds from the sale will be retained by Deutsche Bahn and are intended to significantly reduce the company’s debt. DB has stated that the divestment is in line with its ongoing S3 programme, which is aimed at improving service, infrastructure and financial performance over the next three years.
Dr. Richard Lutz, Chairman of the Management Board and CEO of DB, said:Today we completed the largest corporate transaction in the history of Deutsche Bahn and the logistics industry. The sale of Schenker will reduce complexity for DB and allow us to fully focus on our core business. Over the next three years, we will turn our infrastructure, rail operations and profitability around. The acquisition by DSV will give DB Schenker a new owner that promises a unique market position and opportunities for international growth.
DB Schenker employs approximately 71,100 staff across more than 1,850 sites in over 130 countries. It offers a range of services in land, air and ocean freight, as well as integrated supply chain solutions.
Jens Lund, CEO of DSV A/S, said:With the completion of the acquisition of Schenker, we have reached a milestone in the history of DSV. We have been looking forward to completing the transaction and I am excited to welcome our new colleagues to the DSV organisation. With this acquisition, we become a world-leading player in global transport and logistics, at a time when global supply chains are more in focus than ever before, and our customers need a reliable and agile global network of services and products. By combining the two companies we will create a unique flexible platform for long-term financial growth to the benefit of our customers, employees, shareholders and other stakeholders.
As part of the transaction, DSV has announced plans to invest around 1 billion EUR in Germany over the next three to five years. The acquisition brings together two global logistics networks, expanding DSV’s international capabilities.
Jochen Thewes, CEO of Schenker AG, said:Today marks the close of what has been the most successful era to date in Schenker's more than 150 year history. It is with great pride that we look back on our excellent performance over the past years with Deutsche Bahn as our owner. Now, with DSV, we have the opportunity to build the world's largest logistics group. We look forward to working together on this great vision through responsible and collaborative partnership.
The sale of DB Schenker follows DB’s divestment of DB Arriva in summer 2024, as the group continues its realignment around domestic rail services.
