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Germany plans to take 40% in defense contractor KNDS
AP News • • world
Key Points:
- The German government plans to acquire a 40% stake in defense contractor KNDS, joining France which currently holds 50%, to enhance European defense production and cooperation.
- KNDS, formed in 2015 from a merger of Germany’s Krauss-Maffei Wegmann and France’s Nexter, is a major defense company with 4.4 billion euros in revenue and over 11,000 employees.
- The move aims to secure long-term influence over a strategically important company, strengthen national industrial value creation, and protect key technologies in Germany.
- Germany and France have agreed on a joint strategy and governance for KNDS, intending to become equal shareholders, with plans that may include a future IPO of the company.
- KNDS produces a range of military vehicles, including Leopard and Leclerc tanks, Puma infantry fighting vehicles, and Boxer and Dingo armored personnel carriers, supporting European defense capabilities amid geopolitical tensions.
