Transport Bahri withdraws bid for Danish logistics company By Pramod Kumar July 21, 2024, 6:56 AM Unsplash.com/william william Bahri’s offer was the highest at more than €15 billion for Schenke Saudi shipping giant Bahri has withdrawn from the race to acquire Deutsche Bahn’s logistics unit Schenke, according to a news report. The CVC-led consortium, including Abu Dhabi Investment Authority (ADIA) and GIC, and DSV, a Danish logistics group, are the only two contenders left, Reuters reported, citing unnamed sources. Bahri’s offer was the highest at €15 billion ($16.4 billion), the report said. However, the other offers are in the range of €13 billion. State-owned Deutsche Bahn put up Schenker for sale in 2023 to reduce its €34 billion debt. The final bids are due next month. This month Danish shipping major Maersk pulled out from bidding, saying, “Schenker would not be the right thing to do for our business at this time.” The Danish logistics company employs more than 70,000 people in 130 countries. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
