Germany and France agree to each own half of tank manufacturer KNDS

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Germany and France agree to each own half of tank manufacturer KNDS
Photo: Kay Nietfeld/AP/TT

The two countries have agreed to jointly manage the company, which is headquartered in the Netherlands, according to a statement from the two governments.

Germany bought 40 percent of the shares in the company from the owning family this weekend. The French state already owns 50 percent of the shares, and the company is now about to be listed on the stock exchange.

The deal values the tank manufacturer at between 15 and 18 billion euros, equivalent to 165 to 200 billion kronor.

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TT News AgencyT
By TT News AgencyEnglish edition by Sweden Herald, adapted for our readers

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