Danish logistics firm DSV has acquired Schenker, the logistics unit of German state railway Deutsche Bahn, in a deal valued at €14.3 billion. This marks the largest sale in DB’s history and will make DSV the world’s largest logistics company. The purchase will be financed through a combination of share sales and debt financing. The merger will create a combined revenue of €39.26 billion and a workforce of around 147,000 employees across 90 countries. The sale of Schenker is part of DB’s strategy to focus on its domestic passenger business and reduce debt. DSV’s bid was chosen over a proposal from private equity firm CVC Capital Partners, which had support from the Verdi union. DSV plans to cut between 1,600 and 1,900 jobs in Schenker’s German workforce of 15,000 but intends to build up employee numbers over the following five years. The acquisition is expected to close in the second quarter of 2025, subject to regulatory approval from Deutsche Bahn’s supervisory board and the German transport ministry.
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