2024-10-01 23:55:09
Business
Economy

Concerns Over Schenker Sale Amidst Union Opposition

Image used under license from Shutterstock.com

The proposed sale of DB Schenker to DSV for 14.3 billion euros has sparked significant debate among stakeholders. The railway company aims to reduce its debt through this transaction. However, both the GDL and EVG unions have raised concerns about the transparency of the bidding process and the lack of guarantees regarding the allocation of the proceeds.

GDL, while not entirely opposed to the sale, emphasizes that the highest offer should not be the sole criterion for approval. Union leaders have made it clear that they will not support the sale unless the necessary transparency is provided. Even if employee representatives in the Supervisory Board reject the sale, the Chairman's double voting rights could lead to the approval of the deal despite union opposition.

The unions fear that the sale may result in job losses, which adds to their reluctance to endorse the transaction. With the federal government also needing to approve the sale, the situation remains complex. The outcome hinges on negotiations and the ability of the railway company to address the unions' concerns adequately.

As discussions continue, the fate of DB Schenker hangs in the balance. The unions advocate for a more open process and seek assurances that the sale proceeds will directly contribute to debt reduction, rather than being used for other purposes.

tz
1. Oktober 2024 um 14:49

GDL sets conditions for approval of the Schenker sale

Economy
The railway company wants to sell Schenker for 14.3 billion euros to DSV in order to reduce debt. In addition to the Supervisory Board and the Federal Government, the trade unions GDL and EVG are also demanding a say. Even if the employee representatives in the Supervisory Board reject the sale, they do not have a majority against the sale due to the double voting right of the Chairman.
gmx
1. Oktober 2024 um 14:50

GDL sets conditions for approval of the Schenker sale

Economy
Finance
The GDL threatens to block the sale of Schenker, which is not part of the core business of the railway, for 14.3 billion euros to DSV, as the bidding process is not transparent according to the GDL and the decision-making process is made more difficult. The GDL is basically open to the sale, but the highest purchase price should not be the decisive factor. The EVG also rejects the sale, as it fears job losses. Despite the rejection by the employees, the sale can be enforced due to the voting r..
AFP
1. Oktober 2024 um 14:40

Sale of DB Schenker: According to the current status, the GDL also does not want to agree

Economy
Politics
The railway workers' union EVG and the locomotive drivers' union GDL reject the sale of the logistics subsidiary DB Schenker. The reason is the lack of guarantees that the sales proceeds of 14 billion euros will be used to reduce debt. Federal Transport Minister Wissing and the Federal Government had sought the sale of the profitable rail subsidiary.
Tagesspiegel
1. Oktober 2024 um 16:11

Sale of DB Schenker: According to the current status, GDL also refuses to give its consent

Economy
Politics
The railway union EVG and the locomotive drivers' union GDL have so far refused to give their consent to the sale of DB Schenker. GDL criticizes the lack of transparency and guarantees regarding the use of the sales proceeds. Federal Transport Minister Wissing supports the sale, while the unions express concerns.
CW

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