Thales and DCN merger delayed

Industry sources claim that the planned tie-up between Thales and state-run shipbuilder DCN, which has already been delayed several times, has been delayed again until next year as the companies don’t plan to notify the European Commission about the operation until January 2007.

The plan calls for Thales to acquire a 25% stake in DCN in exchange for an unspecified cash payment and the contribution of its TNF naval operations, including Thales’ 50% stake in the Armaris joint venture and its 24% stake in torpedo consortium Eurotorp