DUESSELDORF/FRANKFURT, Jan 8 (Reuters) - German warship maker TKMS has submitted a non-binding bid for smaller peer German Naval Yards (GNYK), the company said on Thursday. "Discussions between our
TKMS submits non-binding bid for German shipyard GNYK
TKMS's Bid for German Naval Yards
DUESSELDORF/FRANKFURT, Jan 8 (Reuters) - German warship maker TKMS has submitted a non-binding bid for smaller peer German Naval Yards (GNYK), the company told Reuters on Thursday.
Details of the Bid
"Discussions between our two companies will continue with an open outcome," TKMS said in an emailed statement, without disclosing any details around the offer.
Background on GNYK
TKMS, which was spun off from parent Thyssenkrupp in October, last month said it expected to decide soon on whether to buy GNYK, reflecting its ambition to expand in light of growing demand for defence equipment.
Market Context and Competitors
GNYK is part of the family-owned CMN Naval group - a French shipbuilder active in naval and yacht construction - and employs around 400 people directly.
British defence, marine and industrial firm Inocea Group is in talks to buy GNYK, a person familiar with the matter told Reuters in December, indicating broader interest as European defence firms look for effective ways to expand.
(Reporting by Tom Kaeckenhoff and Christoph SteitzEditing by Miranda Murray)
