Paris and Berlin aims for parity as company prepares for IPO and possible German stake acquisition
Paris and Berlin announced on Monday that they have agreed on a new framework for the governance of the Franco-German defence company, KNDS.
The ownership structure currently includes the French state through Nexter Systems and Krauss-Maffei Wegmann, a German family holding, which is expected to exit when the company goes public.
This has prompted Berlin to look at ways to preserve a balanced Franco-German shareholding.
The deal strengthens parity between Paris and Berlin, which intend to become joint shareholders at equal levels, the two capitals said in a joint statement. The agreement sets long-term governance principles, including shared oversight of security matters and the possibility of a future initial public offering (IPO).
