>ThyssenKrupp Is Selling HDW As Well

>The sprit of Christmas seems to come to the managers of TK early this year. They are not only giving away the biggest commercial shipyard in Eastern Mediterranean, Hellenic Shipyards for 1 Euro, but also selling the HDW shipyard as well.

HDW is the leading shipyard of designing and building conventional submarines. And they are doing this since 1851.
According to German business daily Handelsblatt and German weekly Der Spiegel, TK has reached and agreement to sell 24,9 percent of HDW to Abu Dhabi Mar Shipyard (ADMS).

Back in October it was announced that the Abu Dhabi Mar Shipyard was buying %80 of the Blohm und Voss Shipyard. Yes, Blohm and Voss shipyard that also build the legendary battleship Bismarck is a subsidiary of TKMS, thus TK. There seems to a bonding chemistry between TK management and ADMS.

In a relatively short period ADMS has acquired a chunk of German shipbuilding and submarine building assets. The reaction of German government is to watch. The submarine technologies HDW posses are very much unique, highly critical and sensitive. There are many nations that would pay a fortune to have even a part of this high technology. TK believes that the partnership with ADMS will open new markets for their submarines. German government vetoed in 2004 the sale of HDW to the US investment firm One Equity Partners.

The papers report that TK sold less than %25 percent of HDW so that the ADMS will not have a power on the board and the deal will receive an approval from German government. There are also rumors that The UAE will buy submarines from HDW as a countermeasure to Iranian Kilo class submarines. Such an order would make this deal lucrative for everybody. But how Isreal, which wants to buy new submarines from Germany would react to such a deal, is not easy to guess.

Why Am I interested so much in the selling of a German shipyard to an Abu Dhabi one? Because all current and future Turkish submarines are of HDW design. This deal and its consequences is worth of keeping an eye of it.

For further reading:

Abu Dhabi will bei Waffenwerft HDW einsteigen, from Der Spiegel.

Abu Dhabi Mar ist erste Wahl für HDW, from Handesblatt.

Araber werfen ihr Netz nach U-Boot-Bauer HDW aus, from Handesblatt.

Berlin Wants To Keep HDW in German Hands: Report, from Defensenews

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