Switzerland-based DSV added to its stable of logistics providers, buying Schenker from the debt-laden German national railway. The post Schenker sale to DSV approved appeared first on FreightWaves.

Deutsche Bahn has approved the sale of its freight forwarding business DB Schenker to transport and logistics group and fellow forwarder DSV.

The sale of DB Schenker is an important milestone for DB, allowing us to focus consistently on the reconstruction of domestic rail infrastructure and the operation of environmentally friendly passenger and freight transport in Germany and Europe,

DSV A/S won approval to buy Deutsche Bahn AG’s logistics unit for €14.3 billion ($15.8 billion), overcoming resistance from German labor unions and late attempts by a rival bidder to derail the deal.

On Wednesday, 2nd October, the Deutsche Bahn (DB) supervisory board is expected to vote on the proposed sale of its logistics subsidiary, DB Schenker, to Danish competitor DSV. However, the sale is facing resistance from the railway and transport union EVG, potentially jeopardising the transaction.

The Supervisory Board of Deutsche Bahn approved the sale of DB Schenker to Danish transport and logistics group DSV at an extraordinary meeting on Wednesday. DSV announced its biggest transaction to date after signing an agreement to acquire DB Schenker from Deutsche Bahn on September 13, 2024 for an enterprise value of €14.3 billion.

A Deutsche Bahn AG labor union will try to block the agreed €14.3 billion ($16 billion) sale of subsidiary DB Schenker to Danish freight firm DSV A/S, Frankfurter Allgemeine Zeitung reported.

Deutsche Bahn's supervisory board on Wednesday narrowly approved the sale of its profitable logistics business Schenker to Denmark's DSV, batting away union opposition and pushback from rival bidder CVC.