"Thyssenkrupp Successfully Spins Off Naval Defense Unit TKMS with €5 Billion Market Cap"

"Thyssenkrupp has successfully spun off and listed its naval defense unit, TKMS, on the Frankfurt Stock Exchange, achieving a market capitalization exceeding €5 billion on its first trading day. The company will maintain a 51 percent majority stake in TKMS as Europe increases its investment in submarine and maritime defense."

In the recent transaction involving the spin-off and listing of Thyssenkrupp's naval defense arm, TKMS, the law firm S&C played a crucial role in advising the syndicate of banks involved in the deal. Thyssenkrupp successfully completed the spin-off and subsequent listing of TKMS on the Frankfurt Stock Exchange, achieving a market capitalization exceeding €5 billion on its first trading day. This strategic move aligns with the increasing investment in submarine and maritime defense programs across Europe, with Thyssenkrupp retaining a majority stake of 51 percent in TKMS. The S&C team that advised the syndicate of banks included Carsten Berrar, Clemens Rechberger, and Frederik Uller. The press release does not specify their seniority or practice areas.

"Thyssenkrupp Successfully Spins Off Naval Defense Unit TKMS with €5 Billion Market Cap"

Read the full story

Cookie Preferences

Strictly Necessary

Analytics & Statistics

Marketing & Ads