OEP/HDW, ThyssenKrupp in talks on German shipbuilding tie-up

0 Comments | AFP, March, 2004

BERLIN (AFP) — The investment fund One Equity Partners and German industrial group ThyssenKrupp are in talks over a possible merger involving OEP's submarine unit HDW.

Negotiations were described as completely open and could one day lead to the creation of a European shipbuilding giant along the lines of EADS -- the multinational aeronautic and space group.

German officials would like to see a consolidation of shipyards within the country ahead of possible talks with French groups such as Thales or the Direction des Constructions Navales (DCN), the German financial daily Handelsblatt said Tuesday.

They, along with ThyssenKrupp have also expressed interest in HDW, which has until now been kept under wraps by OEP.

But the fund is owned by Bank One of...