Berlin will buy a 40% stake in defense giant KNDS, putting it on par with Paris, as the two countries continue to militarize
Germany and France are preparing an unprecedented joint state takeover of the EU’s largest tank maker, as the two countries continue their militarization drive.
The two governments announced the deal involving Amsterdam-headquartered KNDS on Monday, saying they have finalized the framework governing the company’s ownership, with the countries set to have equal shares.
Germany is expected to purchase 40% of the stock, while the French government will reduce its holding from 50% to 40%, thus leaving a free-float of only around 20%.
Germany’s stake would be acquired from the Wegmann family, KNDS’s current German shareholder, though the contract is still awaiting the final signature and the green light from the Bundestag’s parliamentary budget committee.
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