Report: DSV, and CVC-led consortium, both bid €14 billion for DB Schenker

The deadline for bids to takeover DB Schenker has passed, and Bloomberg reports that according to sources familiar with the matter, DSV A/S, and a consortium spearheaded by CVC Capital Partners Plc, have each submitted bids valuing DB Schenker at approximately €14 billion.

The figure is down from the €15 billion Bloomberg’s sources expected to be offered back in July.

Bloomberg nonetheless reports that the CVC-led group has also put together a bid that would see them pay €16 billion, with the German government reinvesting about €3 billion in return for a 25% stake in DB Schenker.

The battle to take over the well-known German freight forwarder has seemingly whittled down to just two bidders, with a number of interested parties pulling out over the summer.

Some 8 weeks ago, Maersk CEO Vincent Clerk confirmed that Maersk had decided to withdraw from the process of bidding to acquire DB Schenker. A few weeks later, Saudi Arabia’s Bahri also opted to end its pursuit of the company.

Moreover, back in March, DHL confirmed it would not be bidding for DB Schenker.

“We are very interested in the e-commerce space, so we just didn’t see Schenker as a good fit for us. There will be others who are interested with us, but as DHL Group, we have better ways to deploy capital for our shareholders,” said DHL CEO Meyer, in an interview with CNBC.

The departure of Maersk was widely believed to have left DSV in pole position to take over DB Schenker. However, the bid from the consortium led by CVC Capital Partners Plc cannot be ignored.

The Luxembourg-based private equity and investment advisory firm boasts approximately €186 billion of assets, and already owns numerous companies in the logistics and transport sector, including DKV Mobility, Fast Logistics, Moto, Packeta, Scan Global Logistics and WWEX Group.