Naval Group Might Look at Thyssen's Marine Unit

Maritime Activity Reports, Inc.

May 17, 2019

France's Naval Group would consider buying Thyssenkrupp's marine division if the German steel-to-submarines conglomerate were to offer the unit for sale, a German newspaper cited a source close to the French group as saying.

"We will look at the marine business of ThyssenKrupp if it is put on sale," Frankfurter Allgemeine newspaper cited the source as saying.

A spokesman for Naval Group said the company had no comment to make on the report. Thyssenkrupp also declined to comment.

Thyssenkrupp last week abandoned a plan to spin off its capital goods business - car parts, plant engineering and elevators - following a collapse in its share price since it announced the scheme in September.

The group is now pursuing an initial public offering of its elevator business. It has also said it would be open to new ownership structures for its car parts, plant engineering and marine systems units. This could result in it owning a minority stake in them, it has said.

Reporting by Michelle Martin

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