MUNSTER, GERMANY - MAY 20: An Leopard Tank of the Bundeswehr Panzerlehrbrigade 9 (9th Armoured Demonstration Brigade) during a presentation of capabilities by the unit (Getty Images)
BELFAST — France and Germany finalized an agreement today that sets the two countries up to become equal shareholders in European defense prime KNDS.
In a joint statement, Berlin and Paris said that by inking the framework pact, they have taken “a decisive step towards strengthening their common sovereignty in land defence.”
France holds a 50 percent stake which is expected to be reduced to 40 percent. Germany is seeking an identical stake, subject to approval by its budget committee, according to a separate statement today from government spokesperson Stefan Kornelius. He also said that the German government plans on reducing the scope of its stake at a future date.
Key principles of the Franco-German pact cover a “long-term shareholder commitment, parity in governance rights, and appropriate oversight of security matters.”
