Carlyle quits bidding process for Thyssenkrupp marine arm
Reuters
Private equity firm Carlyle has dropped out of a process to buy the marine division of German conglomerate Thyssenkrupp, marking the latest blow to the firm’s ongoing restructuring efforts, Reuters exclusively reported. Thyssenkrupp shares fell as much as 4.5% on the news.
Why it matters
Carlyle’s withdrawal as a suitor for Thyssenkrupp Marine Systems (TKMS) is the latest setback for Thyssenkrupp Chief Executive Miguel Lopez’s efforts to disentangle the sprawling conglomerate, which has been in crisis-mode for several years.
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