Maersk drops out of race for DB Schenker
Danish shipping giant Maersk withdrew its offer to acquire DB Schenker, the logistics arm of the German railway holding Deutsche Bahn (DB). Now, only three contestants remain: the other Danish shipping giant DSV, the Saudi national shipping carrier Bahri and a partnership between investment funds CVC Capital Partners, Carlyle Group and the Abu Dhabi Investment Authority.
Such a choice comes after Maersk carried out its due diligence over the past couple of weeks and decided it was not the right thing for business, as the company’s CEO Vincent Clerc said. This month, the remaining three parties are expected to submit a final offer, with the value of DB Schenker set somewhere around 15 billion euros.
DB Schenker was put on sale due to it being one of DB’s most profitable branches and the mother company needs to cover outstanding debts, estimated at around 34 billion euros. The sale of DB’s logistics arm was announced in December 2023. By January 2024, over 20 parties put their names in the hat, showing their interest in purchasing the German logistics giant.
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