Kongsberg Plans Maritime Spin-off, Defense Merger Supported by Norwegian State

Norwegian defense contractor Kongsberg Gruppen ASA plans to restructure by spinning off its maritime division, Kongsberg Maritime, into a separate publicly listed company on the Euronext Oslo Stock Exchange. This move will create two focused entities: Kongsberg Maritime, specializing in integrated solutions for commercial and naval vessels, and a consolidated Kongsberg entity combining Defence & Aerospace and Discovery units, focusing on defense, security, and surveillance technologies. The spin-off is structured as a demerger with shares issued directly to existing shareholders, maintaining ownership structure, and has the support of the Norwegian government. Kongsberg Maritime will be led by Lisa Edvardsen Haugan, while Eirik Lie will head the newly consolidated defense and technology company. The restructuring aims to enhance competitiveness and strategic focus, responding to growing global demand for security and sustainable technologies. Both companies will remain headquartered in Norway and continue collaborating commercially where beneficial.