France and Germany have agreed to become equal shareholders in KNDS, the European Union’s largest tank manufacturer, a move that removes the final structural hurdle to the company’s planned public listing.
The agreement solidifies state control over the Franco-German land armaments conglomerate, which was formed by the merger of France’s Nexter and Germany’s Krauss-Maffei Wegmann.
The decision paves the way for KNDS to list its shares on both the Paris and Berlin stock exchanges, a dual-listing strategy designed to reflect the company’s bi-national ownership and operational footprint.
By finalizing the 40-40 stake split, the two governments have addressed investor concerns regarding governance clarity and state influence, which had previously stalled the initial public offering process.
This development marks a significant step in the broader European effort to consolidate defense industrial capacity.
With rising geopolitical tensions driving increased demand for armored vehicles and land systems, KNDS is positioned to benefit from expanded order books across NATO and EU member states.