Reported 18 days ago
Thyssenkrupp has updated the terms of project guarantees for its warship division, TKMS, valued at about 10 billion euros, in anticipation of the unit's upcoming spin-off on October 20. The changes reflect a shift toward more stringent conditions as TKMS prepares for its independent future, aiming to unlock shareholder value and facilitate access to capital markets. While TKMS has secured 2.5 billion euros in bank guarantees for its needs, the renegotiated terms will result in increasing annual fees payable to Thyssenkrupp starting in 2025.
Source: YAHOO