Government Sources Indicate Shift in Plans for Thyssenkrupp Marine Systems Stake
Berlin – The German government is reportedly abandoning, for the immediate future, its previous attempts to acquire a stake in Thyssenkrupp’s marine technology division, Thyssenkrupp Marine Systems (TKMS). The influential business newspaper, “Handelsblatt”, cites government sources as the basis for the report, stating that there are currently no ongoing discussions regarding federal involvement in the company.
Thyssenkrupp intends to spin off its marine business as part of a broader strategy to prepare it for an initial public offering (IPO). The company’s supervisory board formally approved this resolution last week. Prior to the recent federal election, the previous coalition government had explored the possibility of a state investment in TKMS, citing concerns about safeguarding national security interests.
According to “Handelsblatt”, the current government, in consultation with the chancellery and relevant ministries of defense, economy and finance, has decided against actively pursuing a state equity participation. Instead, the focus is on establishing a “security agreement” designed to ensure that TKMS’s independence does not compromise either national defense capabilities or employment levels within the company. This agreement would mandate regular consultations between TKMS and the government, along with reporting obligations regarding the company’s progress. A pre-emption right for the federal government is also planned, specifically triggered in the event of a potential acquisition by a strategic investor.
However, labor unions are expressing dissatisfaction with this approach. Jürgen Kerner, Deputy Chair of IG Metall and member of the Thyssenkrupp supervisory board, told “Handelsblatt” that the union’s goal remains securing state participation in the company. Thyssenkrupp itself declined to comment on the matter, stating only that it is engaged in constructive discussions with the government. The Federal Ministry for Economic Affairs did not respond to a request for comment from “Handelsblatt”.