France, Germany to become equal shareholders in KNDS

France and Germany have agreed to become equal co-shareholders in tank maker KNDS, strengthening Europe's industrial and defence capabilities through long-term shareholder commitments.

​France and ​Germany have ‌decided to become ​co-shareholders on an equal weighting ‌basis in tank maker KNDS, said a joint statement by the ‌French and German governments on Monday.

The ‌agreement, which is subject to German parliamentary budget approval, sets out long-term ⁠shareholder ​commitments, parity ⁠in governance rights and oversight of ⁠security matters, added the statement.

"This agreement ​reflects the shared determination of ⁠France and Germany to strengthen Europe's ⁠industrial ​and defence capabilities, support their armed forces, and strengthen European ⁠sovereignty over the long term," they ⁠also ⁠said in the joint statement.