Logistics Gulf bidders in running for Deutsche Bahn logistics arm By Pramod Kumar May 30, 2024, 7:05 AM Alamy via Reuters A DB Schenker cargo bike making deliveries in Linkoping, Sweden. The company employs around 70,000 people in 130 countries ADIA and Saudi’s Bahri in final round Bids up to $16.2bn so far DB Schenker present in 130 countries Abu Dhabi Investment Authority (ADIA) and Saudi Arabia’s national shipping carrier Bahri are in the final round of a bidding process for DB Schenker, the logistics subsidiary of Germany’s national rail operator Deutsche Bahn. Danish companies Maersk and DSV are also in the running, sources told Reuters. ADIA, the UAE’s largest sovereign wealth fund, is in consortium with European investor CVC and Singapore’s government wealth fund GIC. The rail operator wants to collect final bids for the business in July. NewsletterGet the Best of AGBI delivered straight to your inbox every week DSV, CVC, ADIA, GIC and Maersk declined to comment to Reuters. Bahri, Saudi Arabia’s national shipping carrier, was not immediately available for comment. “After intensive evaluation of the now confirmed, non-binding offers for DB Schenker, we have selected the bidders with whom we will move into the next phase of the sales process,” a spokesperson for Deutsche Bahn was quoted as saying. “In the coming weeks, these bidders will have the opportunity to make binding offers for DB Schenker as part of a detailed examination. The entire process is going according to plan,” they added. GCC-EU trade drops by $8bn as talks pause Austrian finance unicorn to open in UAE DP World’s $142m projects enhance Romania’s trade links Some of last week’s bids exceeded 15 billion euros ($16.21 billion), while others came in around 14 billion euros. Proceeds will help the state-owned rail operator cut its debt of around 34 billion euros. An agreement with the final buyer should be in place this year, with the sale scheduled to be completed in 2025. DB Schenker has over 70,000 employees in around 130 countries worldwide, including around 15,000 in Germany.
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