Thyssenkrupp’s shareholders have given assent to the spin-off of the conglomerate’s marine business, TKMS, paving the way for it to become an independent entity in the maritime defence market with its own public listing.
The decision was made during an extraordinary general meeting on 8 August 2025.
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The transaction will see 49% of new TKMS shares directly transferred to Thyssenkrupp shareholders, while Thyssenkrupp will maintain a 51% majority stake.
This ownership structure is designed to ensure TKMS benefits from both autonomy and the support of a “strong anchor shareholder”.
The decision to spin-off TKMS is a cornerstone in Thyssenkrupp’s strategic realignment from an industrial conglomerate to a more focused holding company.
Thyssenkrupp CEO Miguel López said: “With entrepreneurial independence, TKMS gains the freedom to drive innovation more rapidly, invest in a targeted manner, and respond flexibly to customer and market requirements. The agility and accountability of an independent company enable TKMS to take advantage of market opportunities more consistently and compete sustainably on an international level.”
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By GlobalDataUnder the spin-off, shareholders of Thyssenkrupp are set to receive one share in the newly formed TKMS for every 20 shares they currently hold in Thyssenkrupp.
The planned listing of TKMS on the Prime Standard segment of the Frankfurt Stock Exchange is expected to occur within this calendar year.
Thyssenkrupp supervisory board chairman Dr Siegfried Russwurm said: “Becoming independent gives TKMS the entrepreneurial freedom it needs to further develop technological excellence and make a substantial contribution to national and alliance defence. At the same time, this strengthens the security policy capabilities of Germany and Europe.”
The new structure grants TKMS direct access to capital markets, enabling it to finance growth initiatives, foster technology development, and engage in partnerships or acquisitions autonomously.
It also positions TKMS for potential consolidation within Europe’s defence industry, stated the company.
TKMS’s workforce of approximately 8,300 employees are expected to benefit from enhanced stability and growth opportunities.
The growing maritime defence industry’s demand for advanced system solutions is also anticipated to bolster job security in Germany.
TKMS has an order backlog exceeding €18bn, including contracts for submarine projects and the construction of research vessel Polarstern II.
In June 2025, TKMS signed a 10-year contract valued at more than €800m ($937m) for the modernisation of the German Navy’s six Type 212A submarines.
