Europe
European defence
France and Germany settle KNDS ownership dispute, clearing path to defence-champion IPO
France and Germany have agreed to co-own armoured-vehicle maker KNDS as equal shareholders, ending a long-running governance dispute and opening the way to one of Europe's largest defence listings. Germany will buy a 40% stake from the company's German family owners, with a dual Frankfurt-Paris flotation targeted for July as EU rearmament spending accelerates.