Overview

• The federal government is preparing to acquire a 25.1 percent blocking minority in KNDS but has not yet reached a final decision.
• Families Bode and Braunbehrens intend to sell their shares gradually through this year’s IPO, creating an opening for new investors.
• In current scenarios, the French state and Wegmann Holding would each divest 12.5 percent of shares ahead of the flotation, enabling Germany’s potential entry.
• KNDS, valued at around €20 billion, was created in 2015 by merging Krauss-Maffei Wegmann and Nexter to strengthen Europe’s land-defense industry.
• The company’s core portfolio includes Leopard 2 tanks, Boxer wheeled vehicles, self-propelled howitzers and the unmanned ground vehicle THeMIS.