Potential sale of Schenker may yield over 15 billion euros for Deutsche Bahn.
A report suggest that Deutsche Bahn's sale of its logistics subsidiary Schenker could bring them over 15 billion euros. As per "Handelsblatt," first round of bidding received multiple non-binding bids, some even surpassing the 15 billion euro mark. The list of three to four bidders is expected to be prepared soon.
These shortlisted bidders will further delve into Schenker's financials and can submit binding offers, reported "Handelsblatt." Previously, expectant parties had estimated the Schenker's valuation from ten to 15 billion euros.
Deutsche Bahn initiated the process of selling its logistics subsidiary right before Christmas. The Group confirmed to the paper that the process is progressing on schedule. Following careful evaluation of the non-binding offers, the second phase of sale will commence shortly.
Schenker, with more than 76,600 employees at over 1850 locations in over 130 countries, is a prominent global logistics service provider. Schenker, a key profit provider for the group, aims to be completely acquired by its buyer, reducing Deutsche Bahn's debt significantly. The Group is currently saddled with over 30 billion euros in debt.
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Source: www.ntv.de
