Rheinmetall wants to take over shipbuilder Naval Vessels Luerssen: Report

Defence group Rheinmetall wants to take over German shipbuilder Naval Vessels Luerssen, the German daily Bild reported on Wednesday, citing industry sources. 

The CEO of Rheinmetall, which aims to fill gaps through acquisitions, said earlier this month that the company was in talks with partners about investing in the naval business, which would open up another business segment for the maker of tanks and ammunition. 

According to Bild, the Luerssen family that owns the company intends to divest its military shipyards in Hamburg, Wilhelmshaven and Wolgast to focus on building megayachts. 

 

Rheinmetall's supervisory board intends to consider the purchase in the coming weeks, according to Bild. 

Bild cited a person familiar with the matter as saying the acquisition could still fall through as members of the Luerssen family would still have to approve it. 

Rheinmetall did not immediately comment on the report. NVL did not immediately respond to an emailed request for comment.