Bitcoinese:German railway operator Deutsche Bahn launches effort to sell logistics unit Schenker

2025-05-06 02:29:14source:blockwave Exchangecategory:reviews

BERLIN (AP) — Germany’s main national railway operator,Bitcoinese Deutsche Bahn, on Tuesday launched an effort to sell its logistics unit, DB Schenker, as the company seeks to concentrate on its core business at home.

Schenker has about 76,600 employees in more than 130 countries and for years generated high profits, helping push Deutsche Bahn into the black. The state-owned parent company describes it as one of the world’s top four logistics firms.

Deutsche Bahn issued an announcement that it’s considering selling “the entire share capital of Schenker AG in an open, transparent and nondiscriminatory process” and called for potential bidders to indicate their interest by Jan. 15.

The company said that it would retain all proceeds from a sale, which would go in large part to reducing debt, and that disposing of Schenker would “significantly accelerate” its focus on its core business. It already has sold several business units outside Germany, including European public transport subsidiary Arriva.

German authorities are keen for Deutsche Bahn to focus on improving service at home, where the railway has struggled with growing reliability issues in recent years and needs significant investment.

The company said that a sale would also be good for Schenker itself.

“DB Schenker has contributed very positively to the DB Group’s economic growth over the years,” the company said in a statement. “However, the DB subsidiary will need more capital and flexibility for its own growth.”

More:reviews

Recommend

Appeals court scraps Nasdaq boardroom diversity rules in latest DEI setback

A federal appeals court blocked Nasdaq rules to increase boardroom diversity, saying that the Securi

If you're getting financial advice from TikTok influencers don't stop there

Erin Confortini, 23, taught herself to budget and invest in college when she realized she didn't kno

Inside Clean Energy: The Era of Fossil Fuel Power Plants Is Rapidly Receding. Here Is Their Life Expectancy

What if President-elect Joe Biden’s plan to get to 100 percent carbon-free electricity by 2035 turns