Deutsche Bahn AG has selected Goldman Sachs Group Inc. and Morgan Stanley to advise on the potential sale of its DB Schenker logistics unit, which could be valued at as much as €20 billion ($21.3 billion), people with knowledge of the matter said.
The German railroad operator is set to formally hire the two banks after a weeks-long pitching process that was one of the most hotly contested in Europe, said the people, who asked not to be identified because discussions are private. Final details of the mandate are currently being finalized and could still change, the people said.
