Renk Group considers options for civilian industrial business - report
Investing.com -- Renk Group AG is exploring strategic options for its civilian industrial business as the German gearbox manufacturer aims to concentrate on its defense operations, Bloomberg reported, citing a person familiar with the matter.
The Frankfurt-listed company is working with advisers to conduct a strategic review of the business unit that produces products for civilian applications, the report said.
The company is considering various possibilities including partial or full sales of individual subunits within the civilian industrial division.
The report indicated that the civilian industrial business is unlikely to be sold as a single entity.
Following the news on Wednesday, Renk Group shares rose approximately 4.4% on the Frankfurt stock exchange.
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