Now it is apparently certain: The German logistics giant DB Schenker is to be bought by the Danish shipping company DSV. This was reported by the Reuters news agency, citing anonymous government and company representatives. The purchase price is said to be around 14 billion euros.
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It is the Schenker workforce’s nightmare scenario. Because DSV already has a logistics division, the takeover threatens to result in significantly more jobs being lost than with any other buyer. According to an internal letter, Verdi fears the loss of up to 5,300 jobs. If the company were bought by the financial investor CVC, which was also bidding, a maximum of 700 jobs had been expected.
According to Reuters, however, the DSV promises that the difference will affect a maximum of 1,000 jobs in the short term, and that in the medium term even more people will work for the then merged organizations than today.
According to negotiating circles, the financial investor CVC recently offered slightly less for the takeover. That is why the Danish group apparently prevailed!
No comment from Deutsche Bahn and DSV
A preliminary agreement for the DSV deal is to be signed in the next few days, probably on Friday, according to Reuters. The sale is then subject to the approval of the supervisory boards. The Deutsche Bahn supervisory board will hold a special meeting for this purpose.
A Deutsche Bahn spokeswoman declined to comment on the information. A DSV spokesperson said that they generally do not comment on market rumors.
“Should this jewel disappear forever?”
Many fear that a sale to the Danish logistics company could result in a similar outcome to 2019, when DSV bought the Swiss logistics company Panalpina and thousands of jobs were lost.
A former top manager at Panalpina, who did not want to be named, told BILD: “If DSV gets the contract, it will be like Panalpina. Part of DSV’s strategy is always to fill top positions with DSV people after a takeover.”
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He continued: “Decision-makers must therefore ask themselves: What should the future of DB Schenker be? Should it continue to exist as a traditional company and secure jobs – or should this jewel disappear forever?”
Deutsche Bahn wants to sell Schenker in order to concentrate on its crisis-hit core business in Germany and to reduce its debt burden of over 30 billion euros. However, Schenker has long been Deutsche Bahn’s most important source of profit.
