The two binding offers for the acquisition of DB Schenker, submitted at the end of August 2024 by Danish logistics company DSV and the consortium led by private equity firm CVC Capital Partners, have sparked a debate in Germany regarding the potential consequences of the deal. The powerful Ver.di union, which has significant influence in the transport and logistics sectors, has thrown its support behind CVC, citing greater job security compared to DSV. According to Bloomberg, which cites sources close to the matter, the union fears that up to 5,300 jobs could be at risk if DSV gains control of DB Schenker, as the Danish company reportedly plans to split the German firm into three separate entities. In contrast, CVC Capital Partners has reportedly expressed its intention to maintain Schenker’s operational unity, thereby preserving the integrity of the company.
On August 29, 2024, Ver.di sent a letter to the members of Deutsche Bahn's Supervisory Board, urging them to prioritize job preservation in the transaction. This stance marks a shift in the perception of private equity funds in Germany, which have historically been viewed with suspicion and criticized for their tendency to cut costs and quickly sell off acquired companies. None of the companies involved have commented on the news.
A meeting of Deutsche Bahn's Executive Committee is scheduled for early September, which could lead to a recommendation ahead of the decisive Supervisory Board meeting on September 18. Although both offers value Schenker at approximately 14 billion euros, Deutsche Bahn has reportedly requested that the bidders further improve their proposals, deeming them unsatisfactory at this stage.
