Germany secures influence at warship maker TKMS ahead of spin-off

The German Government has been aiming for a security agreement regarding TKMS, which makes frigates, submarines and underwater mine-sweeping technology, and a first term sheet on the matter was concluded on July 7, the documents show.

Under the terms, which are to be finalised in a legally binding accord by the end of September, Germany would have a right of approval if a stake of 25 per cent or more were to be sold in TKMS following the spin-off.