Germany's Alzchem jumps 6.5% after defence contractor CSG secures 20% stake

AlzChem AG

02/06/2026 11:20

** Shares in Germany's Alzchem ACT1.DE jump 6.5% after defence contractor Czechoslovak Group (CSG) increased its exposure to the specialty chemicals maker, securing access to more than 20% of voting rights through a mix of direct holdings and financial instruments
** CSG subsidiary Staluna Trade now holds 9.9% of direct voting rights, while total return swaps referencing about 10.2% have a maturity until May 2027
** Alzchem produces nitroguanidine used in ammunition and propellants 
** Alzchem said CSG remained a long-term investor 
** The Czech group, which first invested in August 2025, has been expanding across Europe's defence sector
** "The market is not so much pricing in the latest financial results -- which were strong anyway -- as the increased likelihood of a strategic scenario, potentially leading to a takeover bid at a later date," says Peter Thilo Hasler, analyst at Sphene Capital
** CSG's stake-building could signal ambitions beyond a purely financial investment, Hasler adds
** Shares in Alzchem are up 28% YTD

 (Reporting by Maria Rugamer)