By Christoph Steitz
FRANKFURT (Reuters) -Carlyle has dropped out of an ongoing bidding process for the warship division of stricken conglomerate Thyssenkrupp, the German company said on Tuesday.
“We can confirm that the investment company Carlyle Group has informed us that it is withdrawing from the bidding process for the investment in Thyssenkrupp’s marine division,” Thyssenkrupp said in a response to emailed questions.
The company did not say why Carlyle had exited the process, adding it was now focusing on a spin-off of the division, which builds submarines and frigates.
Carlyle declined to comment.
News about Carlyle dropping out of the sales process for Thyssenkrupp Marine Systems (TKMS) is a major blow to the group’s ongoing restructuring, which also includes plans for a 50:50 steel joint venture with Czech billionaire Daniel Kretinsky.
Thyssenkrupp shares fell as much as 3.7% on the news.
Sources told Reuters in June that Carlyle and state-lender KfW were in talks to jointly acquire a majority in TKMS.
Thyssenkrupp said it remained in talks with the government about a possible participation.
(Reporting by Christoph SteitzEditing by Jo Mason and Madeline Chambers)
Comments