Berlin is on the verge of acquiring a 50% stake in Franco‑German tank producer KNDS, ending a prolonged ownership saga that included a failed IPO. The German government and KNDS’s German family shareholders, who together own half the equity, have agreed on a purchase that values the firm at €11.2bn, with an additional €1bn top‑up to the family. The French government also holds a 50% stake.
The deal, expected to be finalised this week, does not rule out a future flotation, as KNDS continues to work on an IPO. KNDS declined comment, and the German government has not yet responded. The agreement follows KNDS postponing its blockbuster listing in July after investors balked at a €12bn+ valuation.
The transaction was first reported by Handelsblatt and involves the secretive Wegmann heirs, who also declined to comment.
Source: Financial Times Companies · Summarized by HeadlinesBriefing