The field of bidders for the planned multi-billion deal is shrinking. The Danish shipping giant Maersk finds itself overwhelmed by one particular aspect of the railway subsidiary.
Düsseldorf. In the bidding competition for its logistics subsidiary DB Schenker, Deutsche Bahn is losing another potential buyer. As the Danish container shipping company Maersk announced on Monday, it will no longer pursue the logistics company.
“In recent weeks, there was an opportunity to participate in a thorough due diligence process,” said a statement from the shipping company’s headquarters. After this in-depth review of Schenker’s figures, Maersk decided to withdraw from the process.
Investors welcomed the withdrawal from the bidding process. Maersk shares climbed more than five percent on Monday at their peak.
A few months ago, the German postal company DHL, which was initially considered a promising buyer, had already withdrawn its original interest. At that point, 20 other bidders remained, from which Deutsche Bahn shortlisted four on May 24.
According to information from Handelsblatt, their preliminary offers ranged between 12 and 16 billion euros. In addition to Maersk, the remaining competitors included the Danish logistics company DSV, the financial investor Bahri from Saudi Arabia, and a consortium around the financial investor CVC.
This news comes as Deutsche Bahn continues to navigate the complexities of offloading its logistics subsidiary in a market with fluctuating interest from potential buyers. The withdrawal of a major player like Maersk may shift the dynamics of the ongoing negotiations, influencing the final outcome of this high-stakes deal.