Germany agrees price to buy German half of tank maker KNDS, Handelsblatt reports
Germany and the owners of KNDS have agreed a price for the state to take over the German half of the tank maker, Handelsblatt reports. A classified letter from the Finance Ministry to the budget committee says the government agreed with Wegmann to buy 50% of KNDS, the full German half held by the families.
The price is not stated. The dts news agency, citing Handelsblatt, reports that it tracks KNDS's current equity value. Under the negotiated mechanism, the state would pay clearly less for 50% than the €7.2bn it approved in June for a possible purchase of 40%.
With the state holding half of its largest tank maker, Berlin would have a direct say over production priorities. That looks like a bet on steady, policy-driven orders rather than on export cycles.
The letter says Wegmann aims to sign the purchase contract in November, with closing planned for December.
© Raydn · raydn.us
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