Parliament's budget committee backs Germany's stake in KNDS, sources say
Parliament's budget committee backs Germany's stake in KNDS, sources say
ReutersFri, June 26, 2026 at 10:46 AM UTC
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FILE PHOTO: 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/File Photo
BERLIN, June 26 (Reuters) - The German parliament's budget committee approved the government's planned purchase of a 40% stake worth up to €7.2 billion ($8.21 billion) in KNDS on Friday, sources told Reuters.
The move clears a hurdle for the Franco-German tank maker's initial public offering and paves the way for Berlin to become an equal shareholder alongside Paris.
The move is aimed at securing joint control, strengthening oversight of strategic and security matters and underpinning Europe's defence industrial base.
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The approval also enables KNDS to proceed with its planned dual listing in Frankfurt and Paris next month, seen as one of Europe's most significant defence sector flotations in recent years.
($1 = 0.8804 euros)
($1 = 0.8770 euros)
(Reporting by Holger Hansen, writing by Thomas Seythal, editing by Friederike Heine)
Source: “AOL Money”
