Czech defense company CSG is reportedly attempting to acquire a stake in Franco-German armored vehicle manufacturer KNDS, according to Reuters. KNDS, formed through the merger of Germany’s Krauss-Maffei Wegmann and France’s Nexter, produces major defense systems including the Leopard tank and Caesar artillery platform. Sources familiar with the matter indicated that German family shareholders controlling half of KNDS are instead prioritizing a potential stock market listing and possible sale of shares to the German government. Berlin is reportedly considering acquiring a 30 to 40 percent stake ahead of a future initial public offering that could value KNDS at around 20 billion euros. The reported move comes during a difficult period for CSG following its own IPO earlier this year, amid declining defense stock valuations and concerns over manufacturing capacity.
