{"id":80587,"date":"2024-08-26T00:00:00","date_gmt":"2024-08-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/08\/26\/adia-backed-consortium-offers-eur-14-bn-to-take-over-db-schenker\/"},"modified":"2024-08-26T00:00:00","modified_gmt":"2024-08-26T00:00:00","slug":"adia-backed-consortium-offers-eur-14-bn-to-take-over-db-schenker","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/08\/26\/adia-backed-consortium-offers-eur-14-bn-to-take-over-db-schenker\/","title":{"rendered":"Adia-backed consortium offers EUR 14 bn to take over DB Schenker"},"content":{"rendered":"

CVC and competing DSV offer matching EUR 14 bn bids to snag DB <\/strong>Schenker: <\/strong>A consortium comprising CVC Capital Partners, The Abu Dhabi Investment Authority (Adia), and Singapore\u2019s GIC, submitted a EUR 14 bn bid to acquire DB Schenker, the logistics subsidiary of Germany's Deutsche Bahn, alongside competing bidder Danish transport company DSV, Bloomberg<\/a> reported on Friday, citing sources familiar with the matter.<\/p>\n

The CVC consortium has more to offer: <\/strong>The private equity firm separately submitted another option for the German government to reinvest in the logistics firm for a 25% stake, potentially taking the value of the bid to EUR 16 bn, according to the sources. The Adia-backed consortium intends to list DB Schenker on the Frankfurt Stock Exchange, Reuters<\/a> reported on Friday, citing people in the know. CVC has also pledged to keep the company\u2019s headquarters in Germany and preserve the DB Schenker brand. In contrast, a competing bid from DSV could lead to potential layoffs and the closure of some locations, sources said.<\/p>\n

Right on time<\/strong>: <\/strong>The two parties <\/span>were expected<\/a> to submit their final bids by the end of August after Deutsche Bahn shortlisted them following shipping giant Maersk\u2019s withdrawal from the race. Deutsche Bahn \u2014 which kicked off the sale process in December \u2014 is expected to close the transaction in 2025.<\/span><\/p>\n

What\u2019s next?<\/strong> Deutsche Bahn is currently reviewing the offers and will discuss CVC\u2019s offer with the German government, with a decision expected in the coming weeks. The railway company and the government are likely to renegotiate the terms of the final bids with the two consortiums, a source told Bloomberg. \u201cThe most important criterion remains that a sale must be economically advantageous for the railway,\u201d a spokesperson for Deutsche Bahn told Reuters. <\/p>\n

The story also got ink in the <\/strong>Wall Street Journal<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

The CVC-led group offered EUR 16 bn for the German gov\u2019t to reinvest in the company<\/p>\n","protected":false},"author":1,"featured_media":80588,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[941],"tags":[337,371,137],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-80587","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-acquisition","tag-db-schenker","tag-ma-watch","wpautop","entry"],"acf":{"mongo_id":"87306266-9691-4422-91dc-255acf98f06d","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/8\/2185.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Adia-backed consortium offers EUR 14 bn to take over DB Schenker","related_issue":[80582],"teaser":"The CVC-led group offered EUR 16 bn for the German gov\u2019t to reinvest in the company","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.9ecd6f08-1855-4c1d-a09d-a5154331ddeb.mp3"},"yoast_head":"\nAdia-backed consortium offers EUR 14 bn to take over DB Schenker - 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