Deutsche Bahn has sold its mainly non-rail logistics subsidiary DB Schenker to Danish group DSV for an enterprise value of EUR 14.3 billion ($15.9 billion).
The transfer does not impact steel transportation activities, which are handled mainly by railway transport division DB Cargo.
Kallanish understands the deal is the largest in DB’s history. According to commentators, Schenker has been profitable, but has nevertheless been divested as Deutsche Bahn requires cash for massive investments.
The railway operator has in recent years been heavily criticised for flaws in its operations. Delays and cancellation of trains have become the rule rather than the exception, and the company has become proverbial for its shortcomings. Public annoyance increased when Germany hosted thousands of international visitors during the European Football Championship, who depended on the train service.
Christian Koehl Germany
