German budget committee to decide on KNDS stake purchase this week, document says

ReutersMon, June 22, 2026 at 7:44 AM UTC

0

The KNDS logo is seen on a pre-demonstrator of French interim main battle tank, the CAPINT MBT, produced by Franco-German tank maker KNDS is displayed at the Eurosatory international land and air defence and security trade fair in Villepinte near Paris, France, June 15, 2026. REUTERS/Alice Sacco

BERLIN, June 22 (Reuters) - Germany's budget committee is due to decide this week on a planned acquisition of ‌a 40% stake in Franco-German tank maker KNDS, ‌according to a report by Germany's defence ministry, as one of Europe's biggest ​defence listings takes shape.

The formal decision, scheduled for June 24, is necessary to ensure that KNDS can go public in July as is currently planned, the document, dated June 19, said, ‌adding the so-called ⁠intention to float for KNDS was planned in June.

Germany's stake purchase will value KNDS at 15 ⁠billion to 18 billion euros ($17.2 billion to $20.6 billion), a source told Reuters on Sunday, in a deal aimed at creating a ​counterweight to ​France, which owns half of ​the company already.

Germany is ‌also targeting a so-called "golden share" in KNDS's German unit, the document said, which would come with extended influence over personnel and strategic matters at the country level and ensure a balance of power between Paris and Berlin.

Advertisement

The planned listing of ‌KNDS marks one of the continent's ​biggest and most prestigious defence listings ​and comes after a ​recent setback for German-Franco relations following the collapse ‌of the joint FCAS new-generation ​fighter jet.

Berlin will ​acquire its stake from the German family owners that currently hold half of KNDS, which was created via ​the merger of ‌the former Krauss-Maffei Wegmann (KMW) and France's Nexter.

($1 = 0.8726 euros)

(Reporting ​by Holger Hansen; Writing by Christoph Steitz; editing by ​Friederike Heine and Linda Pasquini)

Original Article on Source

Source: “AOL Money”