Thyssenkrupp ploughs ahead with spin-off of warship division
Thyssenkrupp is moving ahead with a planned spin-off of a minority stake in its warship division, the group said on Friday, adding the newly created holding would be listed on the Frankfurt stock exchange. The company also said that talks with the German government about potential participation in its marine division, Thyssenkrupp Marine Systems (TKMS), were ongoing. The comments came in response to a report in Handelsblatt, which cited people familiar with the matter as saying that Thyssenkrupp had cancelled a sale of TKMS to Rheinmetall, Europe's biggest ammunition maker.