The German arms concern Rheinmetall, as part of the expansion of its European activities, has concluded an agreement to acquire the military division of the shipbuilding group Lürssen Group. This is reported by Reuters, writes UNN.
Details
The companies have agreed not to disclose the purchase price and intend to complete the deal early next year, subject to antitrust approval.
Thanks to this significant strategic acquisition, Rheinmetall expands its portfolio to include military shipbuilding and strengthens its position as a leading supplier of defense technologies in Germany and Europe.
Analysts at investment firm Jefferies said NVL (Naval Vessels Lürssen) generates double-digit profitability, suggesting an acquisition price of 1.5 to 2 billion euros "debt-free."
For reference
NVL is a private group with four shipyards in northern Germany and abroad. Its sales in the 2024 fiscal year amounted to approximately 1 billion euros, and it employs about 2,100 people worldwide.
Rheinmetall, Europe's largest ammunition manufacturer, which also produces tanks and infantry fighting vehicles, has been actively operating in the maritime sector for decades. According to industry sources cited by Reuters, the concern expressed interest in acquiring NVL last month.