Arab shipbuilder Abu Dhabi Mar Tuesday confirmed it is in
preliminary talks with German steelmaker ThyssenKrupp AG (TKA.XE)
on German submarine builder Howaldtswerke-Deutsche Werft, or
HDW.
"I can confirm that Abu Dhabi Mar is talking to Thysenkrupp, the
owner of HDW," a Germany-based spokesman for Abu Dhabi Mar told Dow
Jones Newswires.
"Abu Dhabi Mar and Thysenkrupp are in due diligence on Blohm +
Voss, and in that context, they have also talked on HDW," the
spokesman said, adding "there are no final discussions or
negotiations. They are in preliminary talks."
He wouldn't confirm the size of the stake they are reportedly
looking at. "They're focusing on Blohm + Voss and completing
that."
The comments come in response to an article in German daily
newspaper Handelsblatt Tuesday, citing sources that Abu Dhabi Mar
wants to take a 24.9% stake in HDW.
Company Web site: www.abudhabimar.com; www.thyssenkrupp.com
-By Nour Malas, Dow Jones Newswires; +49 69 29725 500;
djnews.frankfurt@dowjones.com