Report: Germany and KNDS family shareholders reach agreement on stake sale before IPO

The valuation of the KNDS transaction will range between 15 billion and 18 billion euros, depending on the final share price after several weeks of listing. The government led by Chancellor Merz has been attempting to match the French government's stake in KNDS by purchasing shares from the company's family shareholders' holding company, Wegmann & Co. This agreement paves the way for KNDS to conduct an initial public offering (IPO) in Frankfurt and Paris, and it will be traded in the future as a company jointly backed by France and Germany. Previously, negotiations over pricing had stalled after a rebound in European-listed defense company stock prices earlier this year was followed by a decline. (Bloomberg)