Denmark’s DSV wins €14 billion race for Deutsche Bahn’s Schenker, sources say.

BERLIN (Reuters) – Danish logistics company DSV has won the race to take over Schenker, the logistics arm of German state railway Deutsche Bahn, railway and government sources said.

The sources said a preliminary contract for the transaction, worth around 14 billion euros, would be signed in the coming days. The deal must be approved by DB’s supervisory board, which consists mainly, but not exclusively, of representatives from the government, parliament and unions.

A spokesman for DB declined to comment on the report. DSV said it did not comment on market rumours.

The other remaining candidate in the race to buy Schenker was financial investor CVC. According to the company’s website, the company employs more than 70,000 people in 1,850 locations worldwide.