Current:Home > ScamsGerman railway operator Deutsche Bahn launches effort to sell logistics unit Schenker-InfoLens
German railway operator Deutsche Bahn launches effort to sell logistics unit Schenker
View Date:2024-12-23 14:32:49
BERLIN (AP) — Germany’s main national railway operator, 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.”
veryGood! (7)
Related
- 15 new movies you'll want to stream this holiday season, from 'Emilia Perez' to 'Maria'
- With a simple question, Ukrainians probe mental health at a time of war
- Pass or fail: Test your Social Security IQ using this quiz
- Iranian filmmaker faces prison after showing movie at Cannes, Martin Scorsese speaks out
- Jared Goff stats: Lions QB throws career-high 5 INTs in SNF win over Texans
- Authorities investigating threats to grand jurors who indicted Trump in Georgia
- Apple agrees to pay up to $500 million in settlement over slowed-down iPhones: What to know
- Jamie Lynn Spears Subtly Reacts to Sister Britney’s Breakup From Sam Asghari
- Watch a rescuer’s cat-like reflexes pluck a kitten from mid-air after a scary fall
- Firefighters battling lightning-sparked blazes in Northern California get help from light rain
Ranking
- Man charged with murder in fatal shooting of 2 workers at Chicago’s Navy Pier
- Family of 4. Beloved sister. Uncle whose 'smile stood out': Some of the lives lost in Maui wildfires
- Connecticut official continues mayoral campaign despite facing charges in Jan. 6 case
- 8-year-old girl fatally hit by school bus in Kansas: police
- Texas mother sentenced to 50 years for leaving kids in dire conditions as son’s body decomposed
- Which dehumidifiers have been recalled? See affected brands pulled due to fire, burn hazards
- A Nigerian forest and its animals are under threat. Poachers have become rangers to protect both
- Alec Baldwin could again face charges in Rust shooting as new gun analysis says trigger had to be pulled
Recommendation
-
The Daily Money: Markets react to Election 2024
-
Rory McIlroy, Brian Harman, Grandma Susie highlight first round at 2023 BMW Championship
-
Britney Spears and husband Sam Asghari separate after 14 months of marriage: Reports
-
Maui official defends his decision not to activate sirens amid wildfires: I do not regret it
-
As Northeast wildfires keep igniting, is there a drought-buster in sight?
-
FOMC meeting minutes release indicates the Fed may not be done with rate hikes
-
Gov. Tony Evers to lead trade mission to Europe in September
-
Feds raise concerns about long call center wait times as millions dropped from Medicaid