Business · Companies · 12 hrs ago
Germany agrees in principle to take 50% stake in tank maker KNDS
Germany plans to buy the owner families’ 50% stake in KNDS, the German-French maker of tanks and other military vehicles.
The French state already owns the other half, so the purchase would give Germany an equal stake in the company.
The families had planned to sell their shares through a stock market listing, but those plans were postponed and later cancelled.
The German government says its investment would help protect key defence technology, including technology used in the Leopard 2 and Boxer vehicles.
The final price is not known, but the government is expected to pay less than it had originally planned for a smaller stake.
The agreement could be ready for signing in November, while the governments of Germany and France still plan to reduce their holdings if market conditions are favourable.
Germany has agreed in principle to buy the German owners’ 50% stake in KNDS, the Franco-German defence company.
The deal would give Germany and France equal 50% stakes in the tank maker.
The purchase price has not been disclosed, but reports say it will be below the €7.2 billion previously approved for a 40% stake.
The German government says the investment would protect defence technology and national security interests.
Germany and France are expected to sell 10% of their respective stakes later, with plans for a possible stock-market listing.
- Who
- The German government and the German owner families Braunbehrens and Bode, which hold their stake through Wegmann.
- What
- Germany has agreed in principle to buy the families’ 50% stake in KNDS.
- When
- The agreement was reported on 5 November 2026; the contract is expected to be ready for signing in November.
- Where
- KNDS is a Franco-German defence company headquartered in Amsterdam, with its German headquarters in Munich.
- Why
- Germany wants to protect its influence over defence technology and safeguard security interests.
This story does not have two clearly opposing sides.
Germany approved €7.2 billion for a planned purchase of 40% of KNDS.
Reports said Germany had reached an agreement in principle to buy the German owners’ 50% stake.
The purchase contract is expected to be ready for signing.
Germany and France are expected to sell 10% of their respective stakes, with a possible later stock-market listing.
- Stake to be acquired
- 50% of KNDS
- Current French stake
- 50%
- Previously approved price
- €7.2 billion for 40%
- German owners
- Families Braunbehrens and Bode, through Wegmann
- KNDS products
- Leopard 2 and Puma vehicles
4 sources
What people are saying
Wegmann aspires for the purchase contract to be signed still in November 2026
The negotiated purchase-price mechanism means the state will pay a considerably lower sum for 50% of the shares than the amount approved in June for only 40% of the shares.
We plan a stake equal to France’s 50 percent in order to stand on equal terms with our partner