Thyssenkrupp: TKMS marine business to list on October 20

Thyssenkrupp TKA said on Tuesday it would spin off and list its warship division TKMS on October 20 in a deal that analysts have said could value the business at up to 2.7 billion euros ($3.1 billion).

In a statement that confirmed a date previously reported by Reuters, engineering and steel group Thyssenkrupp also said its shareholders would receive one new TKMS share for every 20 shares in the parent group.

It reaffirmed that it would retain a 51% stake to remain a strategic shareholder.

($1 = 0.8635 euros)