Germany Clings to Influence in Arms Manufacturer (KND)

Berlin, July 21 (KUNA) -- German Defense Minister Boris Pistorius affirmed on Tuesday that his government is committed to maintaining its influence in the Franco-German arms manufacturer KNDS, which specializes in producing tanks and military equipment. Speaking during a visit to one of the company’s factories in Kassel, in south-central Germany, Pistorius stated that Berlin is determined to retain its stake in the company regardless of its future ownership structure. He added that KNDS is one of Europe’s most important companies for the defense and economic sectors, and the German government is keen to ensure its continued role within it. Currently, the French state and two German families hold equal shares in the company, with the families seeking to sell part of their stakes by listing the company on the German stock exchange. The German government recently announced its intention to purchase up to 40 percent of the company’s shares for approximately 7 billion euros (around 8 billion dollars) to maintain a balance in ownership with the French side. The company’s shares were scheduled to be listed on the stock exchange in July, but the process was postponed due to disagreements over the company’s valuation. (End) A.N.J. / N.S.A.