Latest news with #RenkGroup
Bloomberg
28-07-2025
- Business
- Bloomberg
KNDS, Triton Reach Agreement After Spat Over Renk Stake
Investment firm Triton Partners has agreed to transfer about half of its shares in gearbox maker Renk Group AG to Franco-German defense company KNDS NV, settling a dispute that has dragged on since February. Triton on Monday said in a statement it would transfer 9,166,667 shares in the settlement, which increases KNDS's current stake in Renk to 15.8%. KNDS had sought to expand its 6.7% stake to 25% before the conflict with Triton.
Bloomberg
09-07-2025
- Business
- Bloomberg
Gearbox Maker Renk Is Said to Mull Options for Civilian Business
Renk Group AG is considering options for its civilian industrial business, according to a person familiar with the matter, as the German gearbox maker looks to focus on its defense operations. The Frankfurt-listed company is working with advisers on a strategic review of the business that manufactures products for civilian use, the person said. Options could include a partial or full sale of individual subunits within the civilian industrial business, which is unlikely to be sold in one piece, the person said.
Bloomberg
01-07-2025
- Business
- Bloomberg
Renk CEO Says Europe Defense Firms Must Consolidate to Compete
Europe's defense industry must consolidate to boost competitiveness as it ramps up production of tanks and other key machinery needed by the region's militaries, Renk Group AG Chief Executive Officer Alexander Sagel said. 'If you look at main battle tanks, if you look at armored personnel carriers, we have a lot of different types of platforms in Europe,' Sagel said Tuesday in an interview with Bloomberg Television. 'It's mandatory and it's absolutely important to have consolidation.'
Bloomberg
13-05-2025
- Business
- Bloomberg
KNDS Said to Sue Triton Over Refusal to Deliver 18% Renk Stake
KNDS NV has sued private equity firm Triton Partners for refusing to transfer a stake in key tank supplier Renk Group AG, according to people familiar with the matter. The Franco-German defense company on Monday filed a lawsuit at Frankfurt's regional court against Triton, demanding the investment firm deliver 18.3 million Renk Group shares, the people said. The move took place just hours before the Tuesday midnight deadline for the share transfer, the people said, declining to be identified because the information is private.
Bloomberg
07-05-2025
- Business
- Bloomberg
Tank Maker KNDS Hits Snag in Buying Triton's Renk Stake
A plan by Franco-German defense company KNDS NV to become the biggest shareholder in key tank parts supplier Renk Group AG has hit a hurdle over disagreements about regulatory approval, according to people familiar with the matter. KNDS announced on Feb. 11 that it had exercised its option to buy Renk shares from Triton Partners, lifting its holding to 25% from 6.7%. The transaction was subject to merger control and other regulatory approvals, it said at the time.
