Plus   Neg

Rheinmetall Confirms Talks On Potential Acquisition Of Stake In KNDS

German defense contractor Rheinmetall AG (RNMBF.PK) on Monday confirmed it is in talks with Wegmann Unternehmens-Holding GmbH & Co. KG regarding the possible acquisition by Rheinmetall of that company's stake in KMW + Nexter Defense Systems N.V. or KNDS.

The company noted that the acquisition of KNDS might lead therefore to an indirect acquisition of Krauss-Maffei Wegmann GmbH & Co. KG or KMW, or other forms of cooperation with KNDS and/or KMW.

Rheinmetall said its Executive Board will analyze and review the possibility to successfully complete such transaction both from a legal and economic point of view.

The company noted that the possibility of such transaction depends on several political, economic and regulatory factors. Depending on the outcome of such analysis, Rheinmetall's Executive Board will decide about further actions.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
NASA's Osiris-Rex robotic spacecraft briefly touched down on near-Earth asteroid Bennu's surface on Tuesday to collect rock and dust samples that will be brought back to Earth in 2023. Bennu is currently more than 200 million miles, or 321 million kilometres, from Earth. Osiris-Rex launched from Cape Canaveral Air Force Station in Florida in September 2016. Amazon said Wednesday that free one-hour grocery pickup is now available to prime members at all U.S. Whole Foods Market locations. Previously, the prime members could pick up Whole Foods orders only at select stores. J.C. Penney said it is near to exiting Chapter 11 ahead of the busy December 2020 holiday season. The beleaguered retailer filed a draft asset purchase agreement towards finalization of the acquisition by Brookfield Asset Management, Inc. and Simon Property Group, Inc. They are expected to buy substantially all of J.C. Penney's retail and operating assets in a combination of cash and debt.
Follow RTT