BERLIN (Pakistan Point News / Sputnik - 09th September, 2022) German railway company Deutsche Bahn has reached an agreement with the German government to sell its logistics company DB Schenker in order to free up funds for further investment in its own infrastructure, the Der Spiegel newspaper reported on Thursday, citing sources.
According to the report, the German Corporate Governance Commission (Regierungskommission Deutscher Corporate Governance Kodex) could approve the sale of the subsidiary at a special meeting this year.
DB Schenker's price is estimated at about 15 billion Euros ($15 billion). Berlin is seeking to sell the company to restore and put in order the country's railway infrastructure, Der Spiegel reported.
DB Schenker employs some 75,000 people worldwide and accounts for over a third of Deutsche Bahn's turnover. The company's profit totaled 1.2 billion euros in the first half of 2022.
