The Bloomberg news agency is reporting that Danish transport and logistics group DSV and a consortium led by CVC Capital Partners have separately put in binding bids for DB Schenker, the forwarding and logistics arm of Germany’s Deutsche Bahn rail group.
The bids value the company at about €14 billion ($15.6 billion), Bloomberg reports.
It adds that the CVC-led group has also tabled an offer of for up to €16 billion under which the German government would reinvest a roughly 25% stake in DB Schenker underwhich the buyout firm would keep the DB Schenker brand and its German headquarters .
Deutsche Bahn revealed in December that it was exploring a sale of DB Schenker to help the rail operator cut its debt and to raise funds to invest in its network.
AP Moller-Maersk had also expressed interest in buying DB Schenker but dropped out of the bidding in July.