Hensoldt wants to take over defense company ESG

Economy - Hensoldt wants to take over defense company ESG

The defense electronics group Hensoldt wants to take over the Munich-based defense company ESG. The Management Board intends to invest up to 730 million euros in the deal, as Hensoldt announced on Tuesday evening. Annual cost savings of around 19 million euros are expected. There should also be potential for more turnover through complementary sales. The money for the takeover is to come from a possible capital increase and debt. Hensoldt hopes that the deal will be completed by the end of the first half of 2024 at the latest.

Announcement

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1. Hensoldt, a defense electronics company based in Taufkirchen near Munich, Germany, has announced its intention to acquire the Munich-based defense company ESG.
2. The takeover of ESG by Hensoldt could potentially boost the German defense industry's electronics sector, as both companies specialize in defense electronics.
3. The deal could also have consequences for the country's ESG (Environmental, Social, and Governance) criteria, as large investments in the defense industry often impact environmental factors and social responsibility.
4. The merged entity, if approved, is expected to strengthen Germany's position in the global defense industry and boost its exports of electronic components and weapon systems.

Source: www.stern.de