ThyssenKrupp divests Kockums to SAAB
ThyssenKrupp Industrial Solutions AG has divested its Swedish shipyard activities ThyssenKrupp Marine Systems AB (TKMS AB, formerly Kockums) to defence and security company SAAB for SEK 340 million. The divestment is in line with the Swedish government’s publicly stated preference for national naval shipbuilding programs. The transaction is subject to approval by the board and the supervisory bodies of ThyssenKrupp Group and the Swedish Competition Authority.
TKMS AB designs, builds and maintains naval systems such as submarines and surface vessels. The company has approximately 900 employees and supplies systems and products to the navies of Sweden, Australia and Singapore.
ThyssenKrupp Industrial Solutions AG is part of the ThyssenKrupp Group which has approximately 161,000 employees in just under 80 countries. In fiscal year 2012/2013, the ThyssenKrupp Group generated sales of around EUR 39 billion.
ThyssenKrupp Industrial Solutions AG was advised by Mannheimer Swartling in the transaction. The partner responsible for the matter and leader of the team in Stockholm was Martin Ericsson, primarily assisted by Johan Frost Bergman, Therese Jansson, Jon Lindgren (Insurance) and Filip Lodding (M&A); Per Josefson and Emil Albihn Henriksson (IP); Tommy Pettersson and Jens Agö (Competition); Henric Diefke and Sam Seddigh (Employment); and Olle Flygt (Dispute Resolution). The firm’s team in Malmö was led by Johan Lekholm, primarily assisted by Teresa Hellmo Fahlander, Karoline Lindow and Elin Sjörén.