BERLIN (Reuters) - Thyssenkrupp is pursuing a spin-off as the main option for divesting its defence business, a spokesperson said on Tuesday after a German newspaper reported several suitors had made
Thyssenkrupp Pursues Spin-Off for Marine Division Amid Offers
BERLIN (Reuters) - Thyssenkrupp is pursuing a spin-off as the main option for divesting its defence business, a spokesperson said on Tuesday after a German newspaper reported several suitors had made offers for the unit.
Carlyle and German state-lender KfW had been poised to take a majority stake in Thyssenkrupp Marine Systems (TKMS) but the U.S. investor dropped out in October, leaving Thyssenkrupp to pursue alternatives.
"Following the exit of Carlyle, we are sticking to our chosen path of making Thyssenkrupp Marine Systems independent. To this end, we are primarily preparing a spin-off of TKMS," said a spokesperson when asked about a report in Handelsblatt.
Citing sources familiar with the process, the business daily reported that Thyssenkrupp had received several bids for its Marine Systems division, including from Rheinmetall, Luerssen and the German government.
The spokesperson also said the company was continuing talks with the German government about a possible participation.
"Independence offers a good starting position for possible national and European consolidation," said the spokesperson.
The company's CFO has said next year would be a realistic timeframe for the spin-off of the unit, which makes submarines and frigates.
Rheinmetall declined to comment. No one was immediately available at Luerssen's parent company NVL.
(Reporting by Christoph Steitz; Writing by Madeline Chambers, editing by Rachel More)
