Thales DCN tie-up

Thales and the French state-owned shipyard DCN have reached a long-awaited tie-up agreement in which Thales will take a 25% stake in DCN as DCN takes over most of Thales’ naval activities. The agreement gives Thales the possibility of raising its stake in DCN to 35% in two years.

DCN will take over Thales’s 50% of their joint venture Armaris plus Thales’s 35% of another joint venture with DCN called MOPA2. Thales will give the government an undisclosed payment in connection with the deal which informed sources claim to be in the range of 100-150 million euros.