Abu Dhabi MAR Group is considering
taking a stake of less than 25 percent in ThyssenKrupp AG’s HDW
submarine-building unit, which supplies navies in Europe, the
Middle East and other regions, the German government said.
“The government is aware” of Abu Dhabi MAR’s interest in
HDW, Economy Ministry spokeswoman Beatrix Brodkorb told
reporters in Berlin today. Abu Dhabi MAR is seeking a 24.9
percent stake in Kiel, Germany-based Howaldtswerke Deutsche
Werft GmbH, known as HDW, Handelsblatt newspaper reported
earlier today.
The proposed stake would add to the Abu Dhabi shipbuilding
group’s partnership with Essen-based ThyssenKrupp, the German
steelmaker and shipbuilder that’s selling assets and reducing
staff to trim debt and return to profit. ThyssenKrupp
spokeswoman Anja Gerber declined to comment and phone calls to
Abu Dhabi MAR went unanswered after business hours. (More)
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