Following the temporary failure of the initial stock market listing for the Franco-German tank manufacturer KNDS, various stakeholders, including the involved companies, national governments, and the company’s owners, are currently negotiating potential alternatives. According to information gathered by the Handelsblatt from government circles, one possibility under discussion is for Germany and France to take complete state control of KNDS. Currently, the company is owned equally by the French state and the German families Bode and Braunbehrens, who are seeking to divest their shares.
The original plan involved Germany acquiring 40% of the company, France reducing its stake to 40%, and the remaining 20% being sold on the stock exchange. However, after the planned IPO in July was postponed, there is talk of attempting another launch in September. Insiders suggest that those in the Federal Government remain optimistic that a successful listing could still occur in September. A spokesperson for the Federal Ministry for Economic Affairs confirmed that the intent to acquire a 40% stake remains.
Despite this optimism, it remains unclear whether the conditions for the IPO would genuinely be better. Consequently, other options are being considered. Under the alternative scenario involving complete state acquisition, both Germany and France would hold a 50% stake each. This arrangement aims to provide immediate stability to the company. In this takeover model, the families would be granted an option to buy back 20% of their shares, which could subsequently be listed on the market.
