Berlin offers support for Thyssenkrupp's TKMS plans, according to the head of the supervisory board
Thyssenkrupp is pushing ahead with plans to spin off its naval shipbuilding division, Thyssenkrupp Marine Systems (TKMS), through an initial public offering (IPO) that is expected to happen soon. The company intends to list up to 49% of a newly formed TKMS holding company on the stock market, while retaining 51% ownership.
The spin-off is designed to provide greater strategic flexibility and foster profitable growth for TKMS. The governance structure established for TKMS after the spin-off will ensure typical shareholder rights, including a "One Share - One Vote" principle without issuing special voting shares.
The German government has expressed support for the spin-off initiative and has been in close consultation with Thyssenkrupp regarding TKMS’s independence and strategic realignment. Despite the security policy importance of TKMS as a defense contractor, there are currently no plans for the federal government to take an ownership stake. However, the German government's backing implies recognition of the division’s critical role in national security, balancing commercial independence with the need for oversight.
Thyssenkrupp CEO Miguel Lopez made comments in prepared remarks, expressing his openness to future discussions regarding TKMS. Siegfried Russwurm, the supervisory board chairman of Thyssenkrupp, also made comments in prepared remarks published on Monday. Both the Executive Board and the Supervisory Board of Thyssenkrupp have engaged in intensive dialogue with the relevant government authorities regarding the TKMS spin-off.
The spin-off of TKMS is pending approval at Thyssenkrupp's extraordinary general meeting, which is scheduled for August 8. The article was written by Miranda Murray, edited by Friederike Heine, and the report was written by Tom Kaeckenhoff. Remarks by Siegfried Russwurm were intended for the company's extraordinary general meeting on August 8.
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Technology and finance industries are anticipated to play significant roles in the upcoming float of Thyssenkrupp Marine Systems (TKMS) in the stock market, as the company plans to list a portion of the newly formed holding company. [1] [4]
Post-spin-off, TKMS's governance structure aims to establish shareholder rights, potentially attracting both domestic and international investors within the business sector. [1] [3]
