Deutsche Bahn to Explore Sale of $21 Billion Logistics Unit
- DB supervisory board approves possible Schenker transaction
- Proceeds would be used for ‘significant debt reduction’
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Deutsche Bahn AG will explore selling its DB Schenker logistics unit in a deal that could reap around €20 billion ($21.4 billion) for Germany’s heavily indebted state-owned rail operator.
The proceeds from the sale “are to remain entirely within the DB Group and contribute, among other things, to the significant debt reduction of the company,” Deutsche Bahn said Thursday in an emailed statement. The company’s supervisory board earlier approved the plan to look into selling Schenker at a meeting in Berlin.