US EditionThyssenkrupp to Spin Off Marine Division Amid Defence Boom
31 Articles
31 Articles
The shareholders of the industrial group Thyssenkrupp in Essen have decided to divest the marine business.
Thyssenkrupp To Spin Off Marine Division Amid Defence Boom
German industrial titan Thyssenkrupp's shareholders on Friday backed a spin-off of its warship and submarine-building unit, seeking to better position the group to benefit from a European defence boom.
99.96% of the shareholders voted in favour of the proposal of the management of the Essen group to separate from TKMS.
Thyssenkrupp's shareholders pave the way for the IPO of the shipyard subsidiary TKMS. The federal government has given itself security guarantees for the important armaments company, but that is not enough for the union.
thyssenkrupp shareholders approve spin-off of TKMS to create independent maritime defence company
The new company is expected to be listed on the Prime Standard segment of the Frankfurt Stock Exchange later this year. TKMS’s independence includes direct access to capital markets, enabling it to finance growth, advance new technologies, and pursue strategic partnerships and acquisitions. TKMS CEO Oliver Burkhard welcomed the outcome, stating: “Today is an important day for TKMS. The decision of the Extraordinary General Meeting to spin off a …
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