Rheinmetall Sells Struggling Auto Division to Focus on Defense
18 Articles
18 Articles
Rheinmetall separates itself from its car supplier division Power Systems. Buyer Aequita is paying 350 million euros for the time being, the closing is planned for 2026. For the Group, the cut is still expensive.
Rheinmetall separates itself from Power Systems with 6250 employees for around 350 million euros and focuses on armaments business. Aequita takes over the business with job protection in Germany.
So far, the Düsseldorf-based armaments company has made part of its business as a car supplier. By the end of the year, he wants to sell the business – because the weapons business is worth more.
After long negotiations, the investment company Aequita takes over the civil business of the Dax Group. However, Rheinmetall head Armin Papperger has to make big concessions.
Rheinmetall Completes Switch to Pure Defense With Auto Unit Sale
Rheinmetall AG agreed to sell its automotive business to investment firm Aequita SE & Co. for a provisional price of €350 million ($406 million), completing the transformation of Germany’s largest arms contractor into a pure-play defense company.
Coverage Details
Bias Distribution
- 50% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
