Luerssen, Rheinmetall among potential suitors for Thyssenkrupp marine unit, sources say
Changes sourcing, adds Thyssenkrupp comment
Oct 23 (Reuters) -German shipbuilder Luerssen and defence group Rheinmetall RHMG.DE could emerge as potential suitors for the warship division of conglomerate Thyssenkrupp TKAG.DE, two people familiar with the matter said.
It comes a day after news that private equity firm Carlyle CG.O had dropped out of the process for Thyssenkrupp Marine Systems (TKMS), in what was a blow to Thyssenkrupp's ongoing restructuring and had weighed on shares.
Rheinmetall and Luerssen declined comment.
Thyssenkrupp referred to comments made on Tuesday, when it said it would intensify efforts to find a standalone solution for TKMS, including a possible spin-off, adding that it also remained open to industrial partnerships.
Handelsblatt reported earlier, citing industry sources, that Luerssen had expressed interest in TKMS and that talks were also being held with Rheinmetall about a potential deal.
Thyssenkrupp Chief Executive Miguel Lopez in August told analysts he was confident that efforts to sell TKMS, either to a consortium of buyers or via a spin-off, would succeed in "coming months".
For a long time, Luerssen had shown no interest because the risks would have been too great and the business too complex, Handelsblatt reported, adding that view has since changed but the company would only step in if the German government also agreed to buy a stake.
Thyssenkrupp previously said it remained in talks with the government about a possible minority stake sale in TKMS.
Reporting by Matthias Inverardi, Kirsti Knolle and Christoph Steitz; Writing by Matthias Williams; Editing by Miranda Murray and David Evans
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
