ThyssenKrupp in ‘Intensive Talks’ to Sell Parts of Blohm+Voss
July 04, 2011, 5:53 AM EDTBy Niklas Magnusson
July 4 (Bloomberg) -- ThyssenKrupp AG, Germany’s largest steelmaker, is in “intensive talks” with a foreign investor regarding the sale of the civilian parts of its Blohm+Voss unit after failing to reach an agreement with Abu Dhabi MAR.
The company may reach a deal with the suitor to sell the shipyard, repairs and industrial divisions of Blohm+Voss in the coming 18 months, Anja Gerber, a spokeswoman for Essen, Germany- based ThyssenKrupp, said by telephone today. She declined to identify the foreign investor because talks are confidential.
The company said July 1 that it’s seeking a buyer for its Blohm+Voss shipbuilding division after failing to agree a joint- venture deal with Abu Dhabi MAR after two years of talks.
--Editors: Robert Valpuesta, Tom Lavell.
To contact the reporter on this story: Niklas Magnusson in Hamburg at nmagnusson1@bloomberg.net
To contact the editor responsible for this story: Angela Cullen at acullen8@bloomberg.net
