FRANKFURT (dpa-AFX) - Germany's ThyssenKrupp is moving ahead with the
planned spin-off of its TKMS naval construction division by looking
into a collaboration with US financial investor Carlyle, the parent
company announced from its headquarters in Essen on Tuesday.

The books of TKMS have been opened up to Carlyle for an 'in-depth
examination and valuation (due diligence)' with the aim being a
possible sale of a stake in the marine division.

Selling shares in the company, a specialist in surface and submarine
naval vessels, is one of several options under consideration,
Thyssenkrupp said.

Carlyle's involvement did not rule out other separation options on
the capital market. Talks were being held simultaneously with the
German government on state participation in TKMS, the company said.

ThyssenKrupp's supervisory board last year approved spinning out the
marine unit.

Pointing to increased defence spending in many countries, the company
said: 'The growing global demand for submarines, naval vessels and
surface and underwater technology is creating additional growth
opportunities for TKMS.'

Independence would allow the division to exploit these opportunities
better, it said.


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