Thales Announcement about Atlas Elektronik
16 December 2005
This announcement initiates a 6-month period of due diligence, with the objective of finalizing the deal before mid-2006. Following this period, Thales will become DCN's industrial shareholder of choice, and as a minority shareholder will have the right to participate in the management of the company.
Denis Ranque, Chairman and CEO of Thales, highlights the European dimension of such a move: "Thales' entry into DCN's capital, paves the way towards European partnerships most notably with Germany."
This agreement does not encompass Thales worldwide naval electronics equipment business, which includes those activities potentially involved in Thales proposal for Atlas Elektronik. Prime contractorship and naval systems activities based outside of France, in particular in the Netherlands, Germany and the United Kingdom, are not concerned. Thales confirms its commitment to serve the independent European naval shipyards with which it has developed a long lasting and successful cooperation.
As such, Thales upholds all the terms of its offer for Atlas Elektronik, including an open invitation to TKMS to join forces. Within the framework of the on-going Atlas Elektronik sale process, Thales remains ready and able to provide the relevant German stakeholders with all appropriate industrial and security guarantees.
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