France, Germany reach deal on arms maker KNDS, paving way for IPO
Tank and artillery shells are on display during the KNDS Media Day event in Munich, southern Germany, on March 19, 2026.(AFP)
France and Germany said on June 22 that they had agreed on the joint governance of arms maker KNDS, paving the way for a blockbuster share offering as they seek to bolster defense cooperation.
"This agreement reflects the shared determination of France and Germany to strengthen Europe's industrial and defense capabilities, to support their armed forces, and to reinforce European sovereignty in an enduring fashion," according to a joint statement issued by the French presidency.
Under the deal, Berlin and Paris will aim to hold equal stakes in the maker of tanks and other military equipment.
