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German government considers minority stake in TKMS – Minister

A general view of the ThyssenKrupp headquarters in Essen, Germany, November 17, 2022. REUTERS/Thilo Schmuelgen/File Photo Acquire License Rights

BERLIN, Sept 12 (Reuters) – The federal government is considering a minority stake in Thyssenkrupp German Defense Minister Boris Pistorius said this on Tuesday during a visit to Kiel.

The review process will last until the end of the year, Pistorius said.

The dpa news agency first reported on the statements, which were confirmed to Reuters by a defense ministry spokesman.

Thyssenkrupp is looking for an independent future for TKMS and has mentioned an IPO, a partial sale or a merger as options for achieving its goal.

On Monday, the business newspaper Handelsblatt reported that Thyssenkrupp is pursuing a plan that would see a financial investor take over the majority and the federal government take a minority stake in the company.

The German group would retain a minority stake, according to the report, which said no final decision had been made, citing people familiar with the matter.

Reporting by Sabine Siebold, text by Miranda Murray, editing by Rachel More

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