German govt considering minority stake in Thyssenkrupp marine unit - minister
Reuters
Published Sep 12, 2023 12:25
Updated Sep 12, 2023 18:16
BERLIN (Reuters) -The German government is considering taking a minority stake in Thyssenkrupp (ETR:TKAG)'s warship division Thyssenkrupp Marine Systems (TKMS), German Defence Minister Boris Pistorius said during a visit to Kiel on Tuesday.
The consideration process would take until the end of the year, Pistorius said, according to a defence ministry spokesperson.
Thyssenkrupp is looking for a standalone future for TKMS, which builds submarines and frigates, and has mentioned a listing, partial sale, merger or joint venture as possibilities to reach its goal.
Last week, a leading worker representative told Reuters that Berlin was expected to decide within weeks whether to take a stake in TKMS, adding this was a precondition for any sale.
He said at the time that the German government did not reject in principle the idea of taking a stake in TKMS and Berlin had understood that it had to take a more active role in the sector's consolidation.
Thyssenkrupp is also still in discussions with potential suitors for a stake in TKMS, including private equity firm Carlyle, people familiar with the matter said.
Thyssenkrupp had no immediate comment.
Carlyle declined to comment.
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.