At an extraordinary general meeting, thyssenkrupp AG shareholders approved the spin-off of the Group’s marine business, now consolidated under TKMS. Under the transaction, 49 percent of the shares in the newly formed TKMS AG & Co. KGaA will be transferred directly to shareholders. Thyssenkrupp AG will retain a 51 percent majority stake, ensuring strategic oversight and long-term stability for TKMS.
By Lars Hoffmann / Hartpunkt
At the virtual event, thyssenkrupp CEO Miguel Lopez stated that the Group has no plans to sell any additional shares in TKMS. Thyssenkrupp intends to remain an anchor shareholder, maintaining controlling influence over the company. Representatives also confirmed that TKMS will continue to be consolidated in the Group’s overall balance sheet.
As part of the spin-off, shareholders will receive one share in the new TKMS AG & Co. KGaA for every 20 shares held in thyssenkrupp AG. The allocation will be proportional, meaning each investor’s stake in TKMS’s minority interest will reflect their existing stake in thyssenkrupp AG. The company plans to list TKMS AG & Co. KGaA in the Prime Standard segment of the Frankfurt Stock Exchange later this year, potentially as early as October.
Professor Siegfried Russwurm, Chairman of the Supervisory Board of thyssenkrupp AG, emphasized that a key element of the new structure is TKMS’s direct access to capital markets. This, he said, will enable the company to finance growth from its own resources, advance new technologies, and pursue targeted partnerships or acquisitions.
At the Annual General Meeting, it was noted that banks have already granted TKMS a guarantee framework exceeding €2.5 billion. In addition, thyssenkrupp will provide the naval shipbuilder with a €300 million revolving credit facility until 2028 to secure short-term liquidity. CFO Axel Hamann stressed, however, that TKMS does not currently require external financing from either thyssenkrupp or third parties. No federal government investment is planned at this stage, though the parent company expressed its willingness to engage in detailed discussions should the government’s position change.
According to thyssenkrupp, the separation of TKMS represents a significant milestone in its strategic realignment. By spinning off a 49 percent minority stake, the Group is advancing its transformation from a broadly diversified industrial conglomerate into a focused, strategically managed holding company. In the future, thyssenkrupp AG will operate as a lean group management organization, overseeing a portfolio of independent, entrepreneurially responsible subsidiaries.
