08-08-2025
Thyssenkrupp investors to vote on defence spin-off
FRANKFURT, Aug 8 (Reuters) - Shareholders in Thyssenkrupp ( opens new tab are scheduled to vote on a planned spin-off of its defence division on Friday, as a radical shift in European spending on defence has raised expectations its value could surge.
In response to the stance of U.S. President Donald Trump, NATO's European members are increasing their defence budgets, which has driven up the shares of companies in the sector.
The order book of Thyssenkrupp's division TKMS - which makes submarines, frigates and develops mine-sweeping technologies - has swollen to more than 18 billion euros ($21 billion) from 11.7 billion at the end of September last year.
That has in turn boosted shares of its parent, which have more than doubled year-to-date.
Thyssenkrupp plans to spin off 49% of TKMS to its existing shareholders while keeping the remaining stake.
The general meeting will start at 0800 GMT and a vote will be held later in the day following an exchange between management and investors, which include the Alfried Krupp von Bohlen and Halbach foundation, Thyssenkrupp's largest shareholder.
Analysts expect the spin-off and separate listing to take place later this year, although Thyssenkrupp has yet to specify the timing.
Last month, Berlin reached a preliminary agreement with Thyssenkrupp that guarantees it will retain influence at TKMS as the government seeks to keep a certain level of control over strategic defence assets.
($1 = 0.8583 euros)
