In September, the CEO of Deutsche Bahn (DB) Richard Lutz presented a new “General Renovation Programme” to the company’s supervisory board. The intention of the so-called S3 programme is to restore the fortunes of the ailing German rail system within three years in three different areas: infrastructure, rail operations and economic efficiency.

Deutsche Bahn AG’s planned €14.3 billion ($15.8 billion) sale of its logistics arm is facing a decisive vote Wednesday.

The supervisory board of German state railway operator Deutsche Bahn has approved the sale of its profitable logistics unit Schenker to Denmark's DSV, board sources said on Wednesday, batting away pushback from spurned bidder CVC.

DSV A/S won approval to buy Deutsche Bahn AG’s logistics unit for €14.3 billion ($15.8 billion), overcoming resistance from German labor unions and late attempts by a rival bidder to derail the deal.Most Read from BloombergGang Violence Is Moving to the Amazon’s Fast-Growing CitiesA 7,

Deutsche Bahn AG said bids submitted after the deadline by private equity fund CVC Capital Partners Plc. remain “inferior” to the winner’s offer, the latest twist in the €14.3 billion ($16 billion) battle for its logistics unit.

Deutsche Bahn has approved the sale of its freight forwarding business DB Schenker to transport and logistics group and fellow forwarder DSV.

Deutsche Bahn's supervisory board on Wednesday narrowly approved the sale of its profitable logistics business Schenker to Denmark's DSV, batting away union opposition and pushback from rival bidder CVC.

A Deutsche Bahn AG labor union will try to block the agreed €14.3 billion ($16 billion) sale of subsidiary DB Schenker to Danish freight firm DSV A/S, Frankfurter Allgemeine Zeitung reported.

Deutsche Bahn workers union seeks to block the sale of DB Schenker to DSV A/S, citing concerns over job cuts and impact on business environment in Germany.