Sweden Herald
Done: Tank manufacturer KNDS to
Photo: Stian Lysberg Solum/NTB/TT
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Done: Tank manufacturer KNDS to list 20 percent on Frankfurt and Paris stock exchanges

German-French KNDS, manufacturer of the Leopard 2 main battle tank, is listing 20 percent of its shares on the Frankfurt and Paris stock exchanges, according to a press release from the company.

The announcement comes after a Franco-German agreement this weekend.

KNDS, with 11,000 employees, is owned equally by the French state and the German holding company Wegmann & Co prior to the listing.

In connection with the listing, Wegmann & Co will sell a 40 percent stake in KNDS to the German state, while the French state will divest shares so that the French state's share is reduced to 40 percent.

KNDS's revenue rose 16 percent to 4.4 billion euros last year.

In this story
FranceWegmann & Co
AuthorTT News AgencyEnglish edition by Sweden Herald, adapted for our readers
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