BERLIN (Reuters) – German rail operator Deutsche Bahn does not expect the sale of its Schenker logistics unit to start before the third or fourth quarter of next year given the current market environment, a company document seen by Reuters on Thursday said.
Due to the size of the transaction, there are not many investors available, said the document, and the sale would probably take about nine months.
While Deutsche Bahn aims to sell up to 100% of Schenker, the state-owned company would also consider selling a minority stake if the market environment is unfavourable, according to the document.
Deutsche Bahn expects Schenker’s operating profit to slump to about 1.2 billion euros next year, down from 2.1 billion euros in 2022.
A spokesperson for Deutsche Bahn declined to comment.
(Reporting by Markus Wacket; Writing by Madeline Chambers; editing by Matthias Williams)
