Maersk has announced that it is withdrawing from the auction to buy DB Schenker.
In a statement, Maersk CEO Vincent Clerc said the company had decided to withdraw from the sales process after carrying out an "in-depth" review into the logistics business, which is owned by Germany's state-run railway operator Deutsche Bahn.
Maersk's review "identified areas of challenges from an integration perspective and ultimately, we concluded that acquiring DB Schenker would not be the right thing to do for our business at this time," Clerc said.
"Our investigation confirmed DB Schenker as an interesting company with a comprehensive portfolio in the logistics market and with further potential to unlock for the future," Clerc said, as he confirmed that Maersk will continue looking at other potential acquisitions.
"Our strategic focus remains unchanged; acquisitions continue to be an important lever to scale our Logistics business. We are committed to continue to grow in Europe, including Germany, and we see our organic growth in logistics gaining momentum," Clerc said in the statement.
"We are executing our growth plans in the Terminals business and implementing a new Ocean network," he said. "This is where our focus is, and we are fully dedicated to further unfolding all the potential that we see."
