The Supervisory Board of Deutsche Bahn AG gave the green light to the sale of DB Schenker to the Danish transport and logistics company DSV at a meeting on 2 October.
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 2025 once all regulatory approvals have been obtained.
On 13 September, the Management Board of DB AG signed an agreement under which it sold its logistics subsidiary to DSV for an enterprise value of €14.3 billion. Including the expected interest income until closing, the total sales value is up to €14.8 billion.
“The sale of DB Schenker marks an important milestone for DB in its efforts to fully focus on restructuring the rail infrastructure in Germany and providing climate-friendly passenger and freight transport operations in Germany and Europe,” explained Werner Gatzer, Chairman of the DB Supervisory Board.
“We have set clear goals to structurally modernize Deutsche Bahn in the areas of infrastructure, operations and profitability and focus on the core business. The proceeds from the sale will significantly reduce DB’s debt and thus make an important contribution to the financial stability of the DB Group. At the same time, DB Schenker will gain a strong strategic owner in DSV,” said Dr. Richard Lutz, CEO of Deutsche Bahn.
