Shortly after Deutsche Post (DP) DHL announced another set of record full-year results, the parcel and logistics giant's outgoing chief executive, Frank Appel, was asked about a report in German business title Manager Magazin that suggested the company could be preparing a bid for DB Schenker.
The article said that DP DHL was looking to make a move before a competitor like shipping giant AP Moller Maersk or Danish forwarder DSV, following Deutsche Bahn's announcement in December that it has assigned its management board to examine and prepare the case for a potential sale of up to 100% of its shares in freight forwarder DB Schenker.
In response, Appel said that DP DHL had a very clear strategy when it comes to potential acquisitions, which would also apply to DB Schenker.
"We need to answer the questions, does that company make us better, is it easy to integrate and is it accretive?" asked Appel.
"If these three questions are answered, yes, then we probably would put in a bid. If one of these questions is answered, no, we will not put a bid in."
Tobias Meyer, who will take over from Appel as chief executive in May, added: "The criteria are the criteria that [have been] mentioned and according to those, we'll look at it.
"Integration, whether that's easy or not, is definitely something that is very important in any case, in any scenario that we look at.
"We need to be certain that can be done. The strategy as it relates to M&A is not going to change."
Last week, Air Cargo News reported that Deutsche Bahn had appointed three banks as it moves forward with the sale of DB Schenker, according to Reuters’ sources.
The report said that the rail group has chosen Goldman Sachs, Morgan Stanley and Deutsche Bank for the sale.
Final details on the sale are still being decided, the sources said.
Deutsche Bahn said in December it was selling DB Schenker to enable it to focus on its core rail business.
The sale of the company, which is ranked fourth globally in terms of airfreight volumes, is valued at around €12bn to €20bn.
https://www.aircargonews.net/business/acquisitions/three-banks-selected-for-db-schenker-sale/
