Carlyle Group Exits From Bidding For A Stake In Thyssenkrupp' Marine Unit

(RTTNews) - Private equity firm Carlyle Group has reportedly withdrawn from bidding for a stake in the marine division of Thyssenkrupp.

According to Reuters, Thyssenkrupp did not say why Carlyle had exited the process, however, it remained committed to making its marine-systems unit independent.

"We can confirm that the investment company Carlyle Group has informed us that it is withdrawing from the bidding process for the investment in Thyssenkrupp's marine division," Thyssenkrupp said, according to the Reuters report.

Carlyle's move comes after it and Thyssenkrupp agreed in March to carry out due-diligence procedures for a possible partial sale of the business unit. The business makes submarines, naval vessels and surface and underwater technologies.

Thyssenkrupp said that following the withdrawal, it would intensify work to make the marine segment independent on the capital market. It added that it would also continue talks with the German government for it to take a stake in the business.