Thyssenkrupp AG’s shareholders have overwhelmingly backed the separation of the conglomerate’s naval-shipbuilding arm, Thyssenkrupp Marine Systems, with 99.96 percent voting in favour at an extraordinary general meeting on 8 August. The decision clears the way for a spin-off that will allocate 49 percent of TKMS to existing investors while the Essen-based parent retains a controlling stake. Board member Volkmar Dinstuhl told the meeting that the prospectus for the new company is expected to receive approval from German financial watchdog BaFin in early October, enabling the spin-off to be entered in the commercial register and the shares to begin trading in Frankfurt in mid-October 2025. TKMS, which builds submarines and frigates, generated about 6 percent of Thyssenkrupp’s 2024 revenue but is among its few consistently profitable divisions, benefiting from a surge in European defence spending.