DSV wins bid for German DB Schenker

Danish logistics company DSV has won the bidding war to acquire DB Schenker, sources from Deutsche Bahn and the German government tells Reuters. A preliminary contract valued at around 14 billion euros is expected to be signed in the coming days. However, the sale is pending approval from the board of Deutsche Bahn before DSV can proceed with the purchase. Neither DSV nor Deutsche Bahn has commented on the matter. CVC Capital Partners was also interested in the acquisition.