GERMAN Rail (DB) is considering non-binding offers from four potential buyers for its profitable logistics subsidiary DB Schenker. According to Reuters, the shortlist of interested parties has reduced from around 10 to four.

These are believed to be: Bahri, DSV, Maersk and a consortium of CVC Capital Partners, GIC and the Abu Dhabi Investment Authority. Previous possible contenders including Advent, Bain, Carlyle Group and UPS are no longer believed to be participating in the sale process.

Since the sale was officially announced by DB last December, several valuations have been put on the business which achieved an adjusted operating profit of €1.1bn on sales of €19.1bn in 2023. Current estimates suggest a sale price of around €15bn, although at least one of the final four bids is reported to be higher. This would be welcome news for DB, which is looking to substantially reduce its debt burden, estimated by Reuters to be around €34bn.

The sale timetable remains unchanged, with DB aiming to receive final bids next month. A purchase agreement should be signed later this year, with the deal likely to complete in 2025.