DSV to Acquire DB Schenker in €14.8 Billion Deal

Danish logistics giant DSV has signed an agreement to acquire DB Schenker, the rail logistics division of Deutsche Bahn. This move follows DSV’s successful bid against its final competitor, Luxembourg-based investment firm CVC.

The sale agreement, valued at €14.8 billion (US$16.4 billion), includes DSV’s plan to invest approximately €1 billion (US$1.1 billion) in Germany over the next 3 to 5 years.

Jens H. Lund, CEO of DSV, stated, “We have a clear plan for how we want to become one of the world's leading transport and logistics companies together. Hand in hand and under one roof, the employees of DSV and Schenker will combine our strengths to create a true global leader in the industry. This strategic combination with significant investments in competitiveness will ensure long-term growth and create sustainable jobs in Germany.”

The sale is pending final approval from Deutsche Bahn AG’s Supervisory Board and the German Federal Government, in compliance with the Federal Budget Code (BHO). The deal is expected to close in 2025, pending regulatory clearances. Social commitments, including job protection, will remain in place for two years after the transaction’s completion, likely extending through 2027 if finalized in 2025.

Proceeds from the sale will stay within the Deutsche Bahn Group and will help significantly reduce the company’s debt, contributing to its long-term financial stability. Deutsche Bahn CEO Richard Lutz noted, “The sale of DB Schenker to DSV marks the largest transaction in DB's history and provides our logistics subsidiary with clear growth prospects.”