Danish container and logistics corporation A.P. Moller – Maersk announced its withdrawal from the tender for the purchase of the logistics operator of the German railway holding Deutsche Bahn DB Schenker. The company statement states that the decision was made due to the high integration risks identified during an in-depth analysis of DB Schenker’s business.
Maersk’s exit leaves three contenders in the race to acquire Schenker: DSV, Saudi Arabia’s national shipping carrier Bahri and a consortium of professional investors including CVC Capital Partners, Abu Dhabi sovereign wealth fund ADIA and Singapore fund GIC. All three funds have significant logistics holdings, including investments in Scan Global Logistics, Packeta, Fast Logistics, Worldwide Express, Globaltranz, VTG, XPO Logistics and Railpool.
Maersk’s offer valued DB Schenker at around €15 billion, believed to be the highest to mid-range among competitors, while DSV’s offer was the lowest. However, DSV may also refuse to participate, as Deutsche Bahn reserves the option to sell not all 100% of its shares in its logistics operator.