Germany's Deutsche Bahn has actually picked four interested celebrations for the next stage of the bidding process for its logistics subsidiary Schenker, 2 sources familiar with the matter told Reuters on Friday.

One or more of the bids submitted by the 4 goes beyond 15 billion euros ($ 16.26 billion), the sources said. Other quotes was available in between 13 and 14 billion euros, among the sources included.

Previously this year, Reuters reported that Schenker was anticipated to fetch in between 12 billion and 15 billion euros ($ 13-$ 16 billion) to assist the state-owned rail operator cut its financial obligation.

The 4 bidders on the shortlist consist of a monetary investor, a tactical financier, a European financier and one from the Middle East, one of the sources told Reuters.

Carlyle has dropped out of the race, having actually formerly been in a consortium with CVC, among the sources said. CVC is now in talk with team up with the Abu Dhabi Financial Investment Authority (ADIA). and Singapore wealth fund GIC, according to the source.

CVC, Carlyle, ADIA and GIC decreased to comment.

In the past few weeks, bidders have had the opportunity to. define their non-binding deals for DB Schenker based upon. detailed info. These confirmed, non-binding deals. have now been submitted and are being thoroughly assessed before. the next phase of the sales process begins rapidly. The procedure. is proceeding according to plan, a Deutsche Bahn representative. stated in an emailed statement.

6 bidders had remained in the running including Danish freight. forwarder DSV, shipping business Maersk. and MSC, a consortium of monetary financiers CVC and Carlyle, as. well Abu Dhabi sovereign wealth fund ADQ and Saudi logistics. company Bahri, as formerly reported.

Deutsche Bahn prepares to select a purchaser for Schenker by the. end of the year and expects the offer to close in 2025, the. sources said.