Rheinmetall sells struggling auto division to focus on defense

BERLIN — Germany’s Rheinmetall will sell its struggling automotive unit to Munich-based investment firm Aequita for about €350 million ($406 million), it said on Wednesday, in one of its final steps to focus on defense.

Rheinmetall, whose business has boomed since the start of the Ukraine war as Europe boosts defense spending, has been seeking a buyer for its Power Systems division since last year and classified it as a discontinued operation in December 2025.

The unit will be sold for a provisional €350 million, subject to potential adjustment when the deal closes, expected in the fourth quarter.

The sale will trigger additional impairment charges of about €200 million, after Rheinmetall booked a non-cash charge of around €350 million in December linked to the business.

“In particular, the further deterioration in the business situation in the automotive sector had an impact on the circumstances and terms of the final agreement,” the company said in a statement.

Aequita, an investment firm that buys and restructures companies, plans to retain the roughly 6,250 employees in the unit worldwide, Rheinmetall added.

“The company is an excellent addition to our automotive division, which will now generate revenues of approximately €5 billion,” said Axel Geuer, chairman and co-CEO of Aequita.

He added Aequita would support the business’s long-term development and seek synergies across its automotive portfolio.

Excluded from the sale are three German locations of aluminium casting specialist KS Huayu AluTech, a stake in automotive sensor joint venture Dermalog SensorTec and car parts maker Pierburg’s Abadiano plant in Spain, Rheinmetall said.

柏林——德国莱茵金属公司周三表示，将以约 3.5 亿欧元（4.06 亿美元）的价格将其陷入困境的汽车部门出售给总部位于慕尼黑的投资公司 Aequita，这是该公司专注于国防的最后举措之一。

自乌克兰战争爆发以来，随着欧洲增加国防开支，莱茵金属的业务蓬勃发展。该公司自去年以来一直在为其电力系统部门寻找买家，并于 2025 年 12 月将其列为终止经营业务。

该部门暂定售价为 3.5 亿欧元，交易完成时可能会进行调整，预计交易将在第四季度完成。

此次出售将引发约 2 亿欧元的额外减值费用，此前莱茵金属公司在 12 月份已计提了与该业务相关的约 3.5 亿欧元的非现金费用。

该公司在一份声明中表示：“特别是汽车行业商业形势的进一步恶化，对最终协议的情况和条款产生了影响。”

莱茵金属公司补充说，收购和重组公司的投资公司Aequita计划保留该部门在全球的约6250名员工。

“该公司对我们的汽车部门来说是一个很好的补充，现在该部门将产生约 50 亿欧元的收入，”Aequita 董事长兼联席首席执行官 Axel Geuer 表示。

他还补充说，Aequita 将支持该业务的长期发展，并寻求在其汽车产品组合中实现协同效应。

莱茵金属公司表示，此次出售不包括铝铸造专家 KS Huayu AluTech 的三处德国工厂、汽车传感器合资企业 Dermalog SensorTec 的股份以及汽车零部件制造商 Pierburg 位于西班牙阿巴迪亚诺的工厂。