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Babcock Borsig News

27 Oct 2020

Siemens, Carlyle Near $2.4 Billion Deal Over Flender Business

(Image: Flender)

U.S. buyout group Carlyle Group Inc is nearing an agreement to acquire Siemens AG's mechanical drive arm Flender, for about 2 billion euros ($2.37 billion), Bloomberg News reported citing sources.Siemens and Carlyle are finalizing terms of the deal that could be announced as early as this week, the report said.Last week Siemens had asked Triton, Carlyle, CVC and Brookfield to submit final offers next week for the business, which has earnings before interest, tax, depreciation…

08 Apr 2002

HDW Stake to go to MAN unit

A unit of Germany's MAN AG reportedly confirmed to a major news agency that it would buy a 15 percent stake in Howaldtswerke- Deutsche Werft (HDW) by October 1. The move follows a surprise takeover of the shipyard by U.S.-based One Equity Partners last month who freed the yard from the control of ailing engineering firm Babcock Borsig. The head of MAN unit Ferrostaal AG, reportedly told a news conference that the firm agreed to buy a 15 percent stake offered by One Equity soon after it gained control of 75 percent of HDW's shares. HDW is the world's leading producer of non-nuclear submarines. One Equity said it bought the controlling stake as a financial investment.

31 May 2002

European Commission Clears Take Over of HDW

The European Commission has authorized the proposed acquisition of the German submarine producer Howaldtswerke-Deutsche Werft (HDW) by the American banking company, Bank One Corporation. The Commission's investigation confirmed that the operation will not create anti-competitive effects, as the transaction will not result in any overlaps between the parties' activities in the European Union. The Commission's careful investigation has also failed to establish any links between Bank One and any US defense group with respect to the acquisition of HDW nor were there any indications that other companies were involved in the financing of the acquisition.

19 Dec 2000

Spain Creates Joint European Company

Spain is in talks with several shipbuilders in Europe to create a joint European company similar to the aerospace EADS, the chairman of Spain's state holding company (SEPI) said. After a presentation in Madrid of Spain's new civilian and military shipbuilder Izar, Pedro Ferreras said SEPI was already talking to groups in France, Germany and Italy. "We want to begin working on projects common to European countries, like the model followed by the aerospace sector, but that takes time," he said, referring to the European Aeronautic Defense and Space Company (EADS). EADS was born from the merger of SEPI-controlled Casa, France's Aerospatiale Matra and Germany's DaimlerChrysler Aerospace.

22 Sep 1999

Celsius To Create Substantial Submarine Builder

Swedish defense group Celsius announced that it was merging unit Kockums Naval Systems with Germany's Howaldtswerke-Deutsche Werft (HDW) to create a leading global player in submarines as the defense sector consolidates. Celsius signed a contract with Babcock Borsig and HDW parent company Preussag, Germany's tourism and industrial group, to form a European shipbuilding company.

24 Sep 1999

Celsius To Create Big Submarine Builder

Swedish defense group Celsius announced that it was merging unit Kockums Naval Systems with Germany's Howaldtswerke-Deutsche Werft (HDW) to create a leading global player in submarines as the defense sector consolidates. Celsius signed a contract with Babcock Borsig and HDW parent company Preussag, Germany's tourism and industrial group, to form a European shipbuilding company. "The merger of these two shipbuilding companies creates the world's strongest builder of submarines, a company with the most advanced technology and a commanding position in the conventional (non-nuclear) submarine sector," Celsius said. Under the agreement, Preussag will sell 25 percent plus one of its HDW shares to Celsius. At the same time, HDW will acquire all shares in Kockums Naval Systems from Celsius.