Armaments industry: The Federal Tank: Government wants to turn the most important manufacturer into a state-owned company
Germany wants to take a 50 percent stake in KNDS and match France's share. The state's entry is intended to prevent critical knowledge from flowing out and to prevent the modernization from being hindered.
German-French tank manufacturer KNDS is expected to become a state-owned company. The original plan for an initial public offering (IPO) has been dropped, with German owners instead planning to sell their shares to the German government. The deal, which could be finalized in the coming weeks, is reportedly dependent on price negotiations. KNDS, created in 2015 from the merger of Nexter and Krauss-Maffei Wegmann, plays a crucial role in Germany's defense capabilities, producing tanks including the Leopard 2 and Leclerc.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
