It is now official. Deutsche Bahn’s Supervisory Board has confirmed their Board of Directors’ decision to sell the logistics branch DB Schenker to Danish-based DSV.
This was confirmed by the German railway company itself, in a press release announcing their Supervisory Board had voted in favour of it, specifying that at the same time the Federal Government also granted its approval, as required by the Federal Budget Code.
DB Schenker will be sold to DSV for €14.3 billion, which is expected to become €14.8 billion, with income from interest until when the deal is officially closed.
The sale, which is expected to be completed in 2025, once all regulatory approvals have been obtained, will allow Deutsche Bahn to fully concentrate on upgrading Germany’s railway infrastructure.
“The sale proceeds will significantly reduce DB’s debt and contribute to the financial stability of the DB Group. At the same time, DB Schenker will gain a strong strategic owner in DSV,” said DB CEO Richard Lutz.
Translation by Giles Foster
