In a statement just issued, the rail company added that the German federal government had also approved the transaction, expected to complete some time next year after all regulatory approvals have been obtained.
Including the «expected interest income until closing», the total sale value could be up to €14.8bn ($16.37bn).
«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 modernise 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,» added Dr Richard Lutz, CEO of Deutsche Bahn.
Following complaints from rival bidder CVC Capital Partners concerning the transparency of the sales process, DB added to its statement: «In December 2023, DB launched an open, transparent and non-discriminatory process for the sale of DB Schenker in accordance with EU law. As a result, DSV has prevailed with clearly the most economically advantageous offer for Deutsche Bahn.»
