German, French governments might take KNDS under complete state control, Handelsblatt says

The German government is considering taking tank maker KNDS under complete state control, jointly with France, after plans for a stock market listing were put on hold.

The German government is considering ​the option of taking ‌tank maker ​KNDS under complete state control jointly with the French state, newspaper Handelsblatt cited German government sources as ‌saying on Tuesday. The paper added unspecified alternatives were also being deliberated. Future ownership of the Franco-German defence contractor became uncertain when in early July, plans were put on hold ‌for a stock market listing that would have been one of Europe's largest ‌in the defence sector in recent years. The suspended transaction would have seen family owners and the French state, which each hold 50% of the shares, sell 10% each to stock market ⁠investors. The ​exiting families also ⁠intended to sell their remaining 40% stake to the German state. The families and KNDS, as well ⁠as spokespeople for the German government and the economy ministry could not immediately be reached ​for comment. A spokesperson for the French Finance Ministry did not immediately respond ⁠to a request for comment. After the listing plans were paused, German Defence Minister Boris Pistorius ⁠said ​that he wanted to secure German influence over KNDS and that the government would talk with French partners, who would be "on an equal footing." KNDS, ⁠created by the combination of Germany's Krauss-Maffei Wegmann and France's Nexter, generated revenue of €4.4 ⁠billion in 2025 and ⁠ended the year with an order backlog of €33.1 billion.