RTR: EU electric car sales drop in May as German demand slumps, industry says
REUTERS reports: Sales of new battery-electric cars in the European Union dropped 12% in May from ...
GM: GAUGING RISKGXO: NEW BOT PARTNERWMT: CAPEX IN CHECKWMT: CFO ON AUTOMATION WMT: SPOTLIGHT ON AUTOMATIONHD: PRESSURE BUILDSFWRD: REVISED EBITDA MAERSK: TESTING ONE-MONTH HIGHFDX: UP UP AND AWAYRXO: COYOTE DEAL TAILWINDDSV: NEW REFI DEALR: WEAKENING AMZN: LIFESTYLE BATTLEKNIN: EXPANDED NETWORK OF CROSS-DECK FACILITIES
GM: GAUGING RISKGXO: NEW BOT PARTNERWMT: CAPEX IN CHECKWMT: CFO ON AUTOMATION WMT: SPOTLIGHT ON AUTOMATIONHD: PRESSURE BUILDSFWRD: REVISED EBITDA MAERSK: TESTING ONE-MONTH HIGHFDX: UP UP AND AWAYRXO: COYOTE DEAL TAILWINDDSV: NEW REFI DEALR: WEAKENING AMZN: LIFESTYLE BATTLEKNIN: EXPANDED NETWORK OF CROSS-DECK FACILITIES
(Editor’s note: I hear you: Which year? Just joking…)
REUTERS reports:
German rail operator Deutsche Bahn expects at least 10 bidders to submit offers for its logistics subsidiary Schenker and aims to sign a contract for the sale in the second half of 2024, two people familiar with the matter told Reuters on Wednesday.
Schenker is expected to fetch between 12 billion and 15 billion euros ($13-16 billion) to help state-owned Deutsche Bahn cut its debt, the people said, speaking on condition of anonymity.
Initial offers with purchase prices must be submitted by the end of March, after which the pool of bidders will be significantly reduced, the two people, and a third person, said.
The sale is to be formally finalised in 2025, the first of the sources said.
Parties that have signalled interest so far include logistics rivals such as the Danish freight forwarder DSV (DSV.CO) and shipping company Maersk (MAERSKb.CO) as well as financial investors such as Blackstone (BX.N) Bain, Advent, CVC and Carlyle (CG.O), according to press reports.
Parcel delivery service UPS (UPS.N) is also considering a bid, and Saudi Arabia’s public investment fund (PIF) is supporting DSV with its bid, the second and third sources said.
Media reports have also said Abu Dhabi-based ADQ and Saudi Arabian shipping and logistics carrier Bahri are among those considering bids.
Bain declined to comment. None of the other parties named immediately responded to requests for comment…
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