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Germany’s federal government is considering taking a stake in the submarine-building arm of Thyssenkrupp as it seeks to accelerate the spin-off of the military contractor from its ailing parent.
German defence minister Boris Pistorius on Tuesday said the government was “thinking about” investing in Thyssenkrupp Marine Systems (TKMS) and its shipyard in Kiel, as he attended an event at the site.
Thyssenkrupp revived old plans to spin off its naval unit in March. The conglomerate, which once symbolised Germany’s engineering might, is gradually selling off most of its assets after years of underperformance.
Several private equity groups have expressed an interest in TKMS, the Financial Times reported in March. However, a person close to the negotiations said they had been deterred by the challenge of taking on a company where each…
