Report: Bahri pulls out of DB Schenker bid; just two interested parties remain

Saudi Arabia’s Bahri has opted to end its pursuit to acquire DB Schenker, two people familiar with the sale told the Reuters news agency yesterday.

The reported decision of Bahri to pull out could also impact the value of DB Schenker’s sale, as Reuters understands Bahri’s bid to have been EUR15bn, which was the highest offer and 2bn more than the lower end of the bidding.

Bahri has not yet publicly commented on the report.

Those following the sale of DB Schenker closely will recall that Maersk pulled out of the race a few weeks ago, with DHL declaring it would not bid back in March.

If Bahri has indeed pulled out, it would seemingly increase the likelihood of Danish logistics company DSV taking over DB Schenker. DSV were already widely thought to be in pole position prior to yesterday’s reports, and now only need to battle against one more bidder.

The other player still in the running is CVC Capital Partners, a Luxembourg-based private equity and investment advisory firm with approximately €186 billion of assets.