May 17, 2019 / 5:37 AM / 3 months ago

French Naval Group would look at Thyssen's marine unit if it goes on sale: Frankfurter Allgemeine

FILE PHOTO: The logo of Naval Group is seen at the industrial site of the naval defence company and shipbuilder in La Montagne near Nantes, France, November 16, 2018. REUTERS/Stephane Mahe

BERLIN (Reuters) - France’s Naval Group would consider buying Thyssenkrupp’s marine division if the German steel-to-submarines conglomerate were to offer the unit for sale, a German newspaper cited a source close to the French group as saying.

“We will look at the marine business of ThyssenKrupp if it is put on sale,” Frankfurter Allgemeine newspaper cited the source as saying.

A spokesman for Naval Group said the company had no comment to make on the report. Thyssenkrupp also declined to comment.

Thyssenkrupp last week abandoned a plan to spin off its capital goods business - car parts, plant engineering and elevators - following a collapse in its share price since it announced the scheme in September.

The group is now pursuing an initial public offering of its elevator business. It has also said it would be open to new ownership structures for its car parts, plant engineering and marine systems units. This could result in it owning a minority stake in them, it has said.

Reporting by Michelle Martin in Berlin, Jean-Michel Belot in Paris and Tom Kaeckenhoff in Duesseldorf; Editing by Tassilo Hummel and Susan Fenton

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