Maersk pulls out of bidding for DB Schenker

A.P. Moller-Maersk has withdrawn its bid to buy DB Schenker, the logistics arm of German state rail operator Deutsche Bahn, as integrating the logistics arm would pose too many challengers.

Deutsche Bahn launched a sale process for its logistics arm last year and, according to Reuters sources, the company had chosen Maersk, DSV, Bahri and CVC in consortium with ADIA and GIC to enter the final round of the process.

The sources said that one or more of the bids submitted by the four in an earlier round exceeded €15bn (US$16bn), while other bids came in between €13-14bn (US$14bn-15bn).