Deutsche Bahn leans toward keeping Schenker unit

German state-owned rail operator Deutsche Bahn AG is leaning toward postponing a possible sale of its logistics unit Schenker that could be worth around 20 billion euros ($21 billion), according to people familiar with the matter.

The option to eventually divest Schenker in the long run remains in place but officials decided to keep the business for now and approved investment plans for the operations, said the people, who asked not to be identified as the matter is private.

A spokeswoman for Deutsche Bahn said there was “no new decision and no new factual situation.”

The company has been working with a consultant and legal advisers to ready the business for a possible transaction later this year, Bloomberg News reported in February. Options being considered range from a full sale, to the potential disposal of a minority holding or an initial public offering, the people with knowledge of the matter said at the time.

Schenker helps transport goods by land, air and ocean and employs more than 74,500 people across about 2,100 locations globally.