By Emma-Victoria Farr and Markus Wacket

FRANKFURT (Reuters) - Deutsche Bahn's logistics unit Schenker has received final bids from Danish transport firm DSV and a consortium led by CVC Capital Partners, with each valuing the business at around 14 billion euros ($15.6 billion), two people familiar with the matter told Reuters.

The divestment of Schenker, which has over 70,000 employees in 130 countries worldwide including around 15,000 in Germany, could be one of the largest transactions in Europe this year.

The CVC consortium also submitted an option that could see the German government reinvest with a minority stake, potentially taking its offer up to 16 billion euros, the people said, speaking on condition of anonymity.

CVC's long-term plan is to list the business on the Frankfurt Stock Exchange, one of the people said. The private equity firm will guarantee that Schenker's headquarters remain in Germany and that it will maintain its brand, the people said.

While DSV can promise synergies as a freight forwarder, this could come at the cost of jobs and locations, they added.

Deutsche Bahn is evaluating the final two offers and will need to discuss them with the government, with a decision expected in the coming weeks, the people said.

"The most important criterion remains that a sale must be economically advantageous for the railway," a spokesperson for Deutsche Bahn said, declining to comment further.

CVC and DSV declined to comment.

The state-owned German railway wants to sell Schenker in order to concentrate on upgrading rail transport in Germany and reduce debt of more than 30 billion euros. The sales process is scheduled to close formally in 2025.

Previous bidders, including shipping firms Maersk and Bahri, dropped out of the race in July.

Reuters reported in May that CVC is working on its bid in consortium with Singapore sovereign wealth fund GIC and the Abu Dhabi Investment Authority (ADIA), which will act as equity providers in the transaction.

($1 = 0.8992 euros) (This story has been refiled to add a second byline)

(Reporting by Emma-Victoria Farr in Frankfurt and Markus Wacket in Berlin, Additional reporting by Stine Jacobsen in Copenhagen, Editing by Friederike Heine and Conor Humphries)