26 Nov 2025

Freshfields advises German federal government on security agreement with TKMS

"Freshfields advised the Federal Republic of Germany on a security agreement with thyssenkrupp AG and TKMS GmbH following a spin-off that transferred 49% of thyssenkrupp’s Marine Systems segment into the now-listed TKMS AG & Co. KGaA (thyssenkrupp retains 51%). The agreement secures core defence-industrial capabilities in Germany under the National Security and Defence Industry Strategy."

Freshfields advised the Federal Republic of Germany in concluding a security agreement with thyssenkrupp AG and TKMS GmbH. TKMS is one of the world’s leading suppliers of conventionally powered submarines and other maritime systems. In a spin-off transaction, thyssenkrupp AG separated 49% of the Marine Systems segment, as bundled in TKMS and its subsidiaries. Thyssenkrupp remains the majority shareholder with a 51% stake in the now publicly listed holding company TKMS AG & Co. KGaA. The concluded security agreement is intended to ensure the availability of core security and defence-industrial capabilities in Germany in line with the National Security and Defence Industry Strategy. Freshfields represented the Federal Republic of Germany in the transaction with a team composed by: Partner Dr. Simon Schwarz (Frankfurt/Hamburg, Corporate/M&A) and Principal Associate Dr. Carsten Bork (Hamburg, Corporate/M&A); Partner Prof. Dr. Wessel Heukamp (Corporate/M&A, Munich); Partner Prof. Dr. Juliane Hilf (Regulation, Düsseldorf); Partner Dr. Andreas von Bonin (Competition/Antitrust, Brussels); Partner Dr. Frank Laudenklos (Financing, Frankfurt); Partner Dr. Philipp Redeker (Tax, Düsseldorf); Principal Associate Dr. Moritz Lehmann (Tax, Munich); Principal Associate Dr. Dennis Chinnow (Financing, Frankfurt); Associate Dr. Denise Leinders (Regulation, Düsseldorf); Associate Giulia Zöller (Corporate/M&A, Munich); Associates Jonas Levermann and Leonhard Knebel (Competition/Antitrust, Brussels); Associate Dr. Marie von Armansperg (Competition/Antitrust, Berlin/Düsseldorf).
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