Financial Investor CVC Improves Schenker Offer, Document Says

CVC Capital Partners, a financial investor, has reportedly improved its offer to acquire Schenker, the logistics division of Deutsche Bahn, according to a document reviewed by Bloomberg.

Key Points:

• CVC's improved offer values Schenker at around €20 billion ($21.5 billion).
• The previous offer was reportedly around €18 billion ($19.3 billion).
• Deutsche Bahn is expected to make a decision on the offer in the coming weeks.

The improved offer comes after CVC submitted a non-binding bid for Schenker in March. Deutsche Bahn has been exploring a sale of Schenker as part of its efforts to reduce debt and streamline its operations.

Schenker is one of the world's leading logistics companies, with a global network of warehouses, transportation routes, and customs clearance services. The company generated revenue of €16.3 billion ($17.5 billion) in 2021.

CVC is a leading private equity and investment advisory firm. The firm has over $125 billion in assets under management and has invested in a wide range of industries, including logistics, healthcare, and technology.

The acquisition of Schenker would give CVC a significant presence in the global logistics market. CVC is likely to invest in Schenker's digital transformation and expansion into new markets.

The sale of Schenker is expected to be one of the largest private equity deals in Europe this year. The deal is expected to close in the second half of 2023, subject to regulatory approvals.