Global private equity firm Carlyle Group is closing in on a deal to acquire a majority stake in Thyssenkrupp’s Marine Systems business at a value of about €1.5bn ($1.6bn) including debt, according to a report by Bloomberg.
The report cites unnamed sources familiar with the matter as confirming that talks are progressing and that advanced discussions on terms of the proposed acquisition could begin as early as this week.
The beleaguered German conglomerate’s Marine Systems business makes submarines, surface vessels and naval electronics and selling a stake in the business would be a positive for Thyssenkrupp’s CEO Miguel Ángel López Borrego, who has recently suffered a series of setbacks after pledging to revive the company.
According to Bloomberg’s sources, Thyssenkrupp is also in separate talks to sell a stake of around 25% in the naval unit to the German government.
Agreement has yet to be reached in either case though and the deals may yet fail to progress.
Source: Private Equity Wire
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