The decision by Deutsche Bahn’s Board of Directors to sell DB Schenker to Danish logistics giant DSV has not resolved the issue, as both unions and another bidder, a consortium led by CVC Capital Partners, have expressed their opposition. The strong opposition initially voiced by the Ver.di union has now been echoed by the Evg union, which also raised serious concerns about potential job cuts following the integration of DB Schenker into DSV.
The Evg union president emphasized that DB Schenker is a valuable asset to Deutsche Bahn, generating revenue, and that its complete sale would not only result in job losses but also a reduction in overall value for the company. The clash between the company and unions is expected to surface at the Supervisory Board meeting on October 2, 2024, where the Board will either confirm or reject the Board of Directors' decision. Out of the twenty Supervisory Board members, ten represent the workers, making a positive vote far from guaranteed.
Meanwhile, the other contender in the sale process, the consortium led by private equity firm CVC Capital Partners, remains in the background. In recent days, it has written to Deutsche Bahn’s leadership, pointing out that the decision to sell to DSV lacked transparency. According to German sources, CVC has even commissioned an evaluation to determine whether the bidding process adhered to European Union regulations.
In response to CVC, Deutsche Bahn stated that DSV’s offer was higher than that of the competing consortium, leaving no choice but to select DSV. The railway company’s leadership added that CVC’s counteroffer still did not surpass DSV’s bid. These assessments, Deutsche Bahn noted, were confirmed by an independent auditor who reviewed both offers.
