Troubled Deutsche Bahn sells logistics unit to Danish group

(ANSA-AFP) - FRANKFURT AM MAIN, SEP 13 - Troubled German rail operator Deutsche Bahn announced Friday the sale of its logistics unit Schenker to Danish group DSV for 14.3 billion euros ($15. 8 billion) to create a freight-forwarding giant. The state-owned German group, which has faced mounting criticism due to creaking infrastructure and poor punctuality, said the deal would provide fresh investments into Europe's biggest economy and help pay down its monster debts. "With the acquisition we bring together two strong companies, creating a world-leading transport and logistics powerhouse that will benefit our employees, customers and shareholders," DSV chief executive Jens Lund said in a statement. The new entity will aim to compete with other heavyweights in the sector, like DHL, UPS and Fedex.
    (ANSA-AFP).