financetom
Business
financetom
/
Business
/
Union announces talks with Carlyle on majority stake in Thyssenkrupp Marine Systems
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Union announces talks with Carlyle on majority stake in Thyssenkrupp Marine Systems
Apr 30, 2024 9:00 AM

DUESSELDORF, Germany (Reuters) -Germany's IG Metall union on Tuesday said it had preliminary talks with Carlyle on the investment firm taking a majority stake in Thyssenkrupp Marine Systems and agreed to push for an agreement as quickly as possible.

In a newsletter seen by Reuters, the union however insisted that a stake sale to private equity investors could only happen if the state stepped in as well to secure the conglomerate's naval shipbuilding activities.

The economy ministry was not immediately available for comment.

"A first round of negotiations in a small group is scheduled for the beginning of May," IG Metall said, adding that Carlyle was carrying out due diligence about taking a majority stake.

Thyssenkrupp said last month it was considering selling a stake in its Marine Systems unit. Carlyle had confirmed its involvement in the talks but declined to elaborate.

Thyssenkrupp is aiming to sell a stake of around 25% in the unit mainly due to the burden of providing billions of euros of guarantees to clients.

"...a sale to private equity investors can only happen if the state assumes its responsibility and steps in to secure naval shipbuilding as a key technology in the long term," the union said.

"There is currently broad political support for this."

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Market Chatter: Citgo Petroleum Bidders Down to CVR Energy, Creditors Group
Market Chatter: Citgo Petroleum Bidders Down to CVR Energy, Creditors Group
Aug 2, 2024
02:48 PM EDT, 08/02/2024 (MT Newswires) -- The list of bidders for Houston-based oil refiner Citgo Petroleum has narrowed down to CVR Energy ( CVI ) and a group of creditors that includes miner Gold Reserve, Reuters reported Friday, citing three people familiar with the matter. CVR Energy ( CVI ), which is controlled by activist investor Carl Icahn, has...
US FDA says all doses of Lilly's weight-loss and diabetes drug now available
US FDA says all doses of Lilly's weight-loss and diabetes drug now available
Aug 2, 2024
(Reuters) -All doses of Eli Lilly's ( LLY ) weight-loss drug Zepbound and diabetes drug Mounjaro are now available, the U.S. Food and Drug Administration's updated shortage list showed on Friday. Lilly's Mounjaro has been on the U.S. FDA's shortage list since late 2022, while Zepbound was added to the list in April this year. Surging demand for Mounjaro and...
Market Chatter: Petrobras to Include at Least 1 Partner in Bid for Galp's Namibia Oil Prospect
Market Chatter: Petrobras to Include at Least 1 Partner in Bid for Galp's Namibia Oil Prospect
Aug 2, 2024
02:55 PM EDT, 08/02/2024 (MT Newswires) -- Petrobras (PBR) plans to partner up for its bid on a 40% stake in Galp Energia's Mopane oil prospect off Namibia's coast, Reuters reported Friday, citing sources. The company will not pursue the full stake alone, aiming to dilute the risk with partners, sources told Reuters. Petrobras director of exploration and production Sylvia...
First Interstate Bancsystem Insider Bought Shares Worth $347,718, According to a Recent SEC Filing
First Interstate Bancsystem Insider Bought Shares Worth $347,718, According to a Recent SEC Filing
Aug 2, 2024
02:53 PM EDT, 08/02/2024 (MT Newswires) -- Kevin P Riley, Director, President & CEO, on July 31, 2024, executed a purchase for 11,232 shares in First Interstate Bancsystem ( FIBK ) for $347,718. Following the Form 4 filing with the SEC, Riley has control over a total of 83,035 shares of the company, with 82,512 shares held directly and 523...
Copyright 2023-2026 - www.financetom.com All Rights Reserved