The owners of the KNDS family will sell 40% of the shares to the German government.

Insiders have revealed that the family holding half of the tank manufacturer KNDS has agreed to sell 40% of their shares to the German government. This deal clears the last obstacle for the company to go public before the summer. KNDS produces "Leopard 2" and "Leclerc" tanks and is preparing to be listed in Frankfurt and Paris. This move will see these families exit the French-German joint venture. Sources suggest that the valuation of KNDS in this transaction will be between 15 to 18 billion euros. This means the German government will pay approximately 6 to 7 billion euros for their stake.