Deutsche Bahn's supervisory board on Wednesday narrowly approved the sale of its profitable logistics business Schenker to Denmark's DSV, batting away union opposition and pushback from rival bidder CVC.

DSV A/S won approval to buy Deutsche Bahn AG’s logistics unit for €14.3 billion ($15.8 billion), overcoming resistance from German labor unions and late attempts by a rival bidder to derail the deal.Most Read from BloombergGang Violence Is Moving to the Amazon’s Fast-Growing CitiesA 7,

Deutsche Bahn has approved the sale of its freight forwarding business DB Schenker to transport and logistics group and fellow forwarder DSV.

Deutsche Bahn AG’s planned €14.3 billion ($15.8 billion) sale of its logistics arm is facing a decisive vote Wednesday.

The sale of DB Schenker is an important milestone for DB, allowing us to focus consistently on the reconstruction of domestic rail infrastructure and the operation of environmentally friendly passenger and freight transport in Germany and Europe,

Switzerland-based DSV added to its stable of logistics providers, buying Schenker from the debt-laden German national railway. The post Schenker sale to DSV approved appeared first on FreightWaves.

The supervisory board of German state railway operator Deutsche Bahn has approved the sale of its profitable logistics unit Schenker to Denmark's DSV, board sources said on Wednesday, batting away pushback from spurned bidder CVC.

The Supervisory Board of Deutsche Bahn approved the sale of DB Schenker to Danish transport and logistics group DSV at an extraordinary meeting on Wednesday. DSV announced its biggest transaction to date after signing an agreement to acquire DB Schenker from Deutsche Bahn on September 13, 2024 for an enterprise value of €14.3 billion.

The board of Germany's state-owned Deutsche Bahn railway approved the sale of the logistics subsidiary DB Schenker to the Danish firm DSV on Wednesday. A majority of Deutsche Bahn's supervisory board voted in favour of the deal,