Deutsche Bahn launches sale of logistics subsidiary Schenker
Deutsche Bahn is heavily in debt and the rail network is also in urgent need of renovation. But where should the money come from? Part of the solution could be the sale of the logistics subsidiary Schenker. Interested parties can now bid for the company.
Deutsche Bahn has initiated the bidding process for its logistics subsidiary DB Schenker. A corresponding advertisement has been placed in the "Wall Street Journal", as announced by the federally owned group. Interested parties now have the opportunity to submit their bids on the basis of this advertisement. The bidding process should be open and non-discriminatory in accordance with the rules of EU state aid law, it said.
The Group once again emphasized that the money from the sale proceeds would remain entirely with Deutsche Bahn and that a large part of it would be used to reduce the high level of liabilities. In December last year, the Supervisory Board of Deutsche Bahn instructed the Group to "examine and prepare the sale of up to 100 percent of DB Schenker". Deutsche Bahn informed the board at the end of September that the review had been completed and that the search for a buyer had begun.
Many critics believe that the company, with its high proportion of air, sea and road freight, is not a good fit for Deutsche Bahn. In view of the numerous problems on the railways, they demand that the parent company should concentrate more on its core business again and unbundle its widely ramified company structure with hundreds of subsidiaries all over the world. In addition, possible billions in proceeds from a Schenker sale would not be inconvenient for the upcoming extensive investments in the rail infrastructure.
The economically sound logistics group has been making high profits for years and has helped the railroads to stay in the black in economically difficult times. Recently, however, Schenker has also felt the effects of the significant slowdown in the global logistics market. Nevertheless, interest in acquiring the company is likely to remain high. According to Deutsche Bahn, Schenker is one of the top four players in the industry - alongside Kühne+Nagel, the logistics group DSV and DHL.
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Source: www.ntv.de
