ThyssenKrupp Board Approves Star Capital Deal

The supervisory board of ThyssenKrupp‘s Marine Systems division has approved plans to sell the civilian shipbuilding business of Blohm + Voss to British private equity company Star Capital, Reuters wrote Friday.

(Reuters) – The supervisory board of ThyssenKrupp’s Marine Systems division has approved plans to sell the civilian shipbuilding business of Blohm + Voss to British private equity company Star Capital, two people familiar with the matter said.

“The Marine Systems supervisory board approved this today,” one of the two people told Reuters on Friday.

The deal paves the way for Germany’s biggest steelmaker to exit from civilian shipbuilding.

A ThyssenKrupp spokesman said talks to sell Blohm + Voss assets to a European financial investor were “close to a successful conclusion”.