Deutsche Bahn sells logistics subsidiary Schenker for 14.8 billion euros
The largest transaction in the history of Deutsche Bahn is intended to help it get on a "strong track".
A truck from DB Schenker.
(Image: Deutsche Bahn)
Deutsche Bahn is selling its logistics subsidiary DB Schenker to the Danish transport and logistics group DSV. The two companies signed an agreement to this effect today, Friday. Including the interest income expected until the transaction is completed in the course of next year, the total sale value amounts to 14.8 billion euros, Deutsche Bahn announced. The DB Supervisory Board and the federal government must first give their approval.
DB Schenker offers international transportation services for industry and trade by land, sea and air. 74,200 employees work at 2,100 locations worldwide. The company has been part of Deutsche Bahn since 2002. Politicians from the current governing coalition had already called for Deutsche Bahn to sell DB Schenker and focus on its core business at the beginning of 2022.
"Strong rail"
This is precisely what Deutsche Bahn is referring to in its press release: "Concentrating on DB's core business is a key prerequisite for implementing the long-term Strong Rail strategy." This should lead to an increase in passenger rail traffic and the share of rail in freight traffic.
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The proceeds from the sale are to remain entirely within the DB Group and reduce debt. According to DB CEO Richard Lutz, the largest transaction in the history of his company will make it possible to concentrate on the public rail infrastructure in Germany and climate-friendly passenger and freight transport. The Group will also become more financially sustainable. Over the next three years, the structural restructuring of the infrastructure, rail operations and profitability are on the agenda.
Federal Transport Minister Volker Wissing (FDP) requested a concept for this from Deutsche Bahn at the beginning of this month. Deutsche Bahn responded immediately and agreed with the Minister that the first half of the year had "once again ruthlessly exposed the weaknesses of the rail system in Germany and our own problems". In the coming days, Deutsche Bahn is expected to present its concept for achieving a "strong rail system" by 2027.
(anw)
