DSV Agrees to Buy Deutsche Bahn's Schenker Logistics Arm in Near-$16 Billion Deal

By Dominic Chopping

Danish logistics company DSV said it would buy Deutsche Bahn's logistics arm in a deal that values the business at nearly $16 billion, winning a monthslong sales process that saw sovereign wealth funds, private equity firms and shipping giant Maersk all weighing bids.

"The commercial and operational fit between all three divisions of DSV and Schenker will provide strong opportunities to develop the combined business in the coming years, which in turn will contribute to growth, job creation and strong financial returns," DSV said.

The deal values Schenker at 14.3 billion euros ($15.84 billion) and DSV said it will finance the deal through a combination of equity financing of around 4 billion to 5 billion euros and debt.

Deutsche Bahn started the sale process of Schenker in December to focus on its core business and reduce debt.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

September 13, 2024 02:30 ET (06:30 GMT)

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