BERLIN (Reuters) -German defence group Rheinmetall said on Sunday it had reached an agreement with the Luerssen Group to acquire the shipyard’s military division, Naval Vessels Luerssen, in a move aimed at expanding into naval shipbuilding.

The companies have agreed not to disclose the purchase price, it said, adding they aim to complete the transaction early next year, subject to antitrust approval.

“With this significant strategic acquisition, Rheinmetall is expanding its portfolio to include naval shipbuilding and strengthening its position as a leading supplier of defence technology in Germany and Europe,” it said in a statement.

Rheinmetall, which makes tanks, grenades and infantry fighting vehicles, has for decades been active in the maritime sector. It said it plans to meet a sur

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