BERLIN — The German government will pay 6.6 billion euros ($7.41 billion, yaani about 7.41 billion US dollars) for its stake in Franco-German defence group KNDS, two people close to the matter told Reuters on Tuesday, November 10, 2026. Berlin last week struck a deal with the family owners of KNDS to buy a 50 percent stake in the maker of Leopard 2 tanks, a government document showed, as it seeks greater influence over critical defence technology.

Source: Reuters via Global Banking & Finance, Nov 10, 2026

AFP separately reported a figure of 6.64 billion euros ($7.4 billion) for the 50 percent stake, citing a parliamentary source, and said an official decision to approve the purchase price is expected from the German parliament's budget committee on Thursday. The move to buy the shares now held by the Bode-Wegmann family aims to put Berlin on an equal footing with the French state, which owns the other half of KNDS, AFP said.

Source: AFP via Robo Daily, Nov 10, 2026

A 6.6 billion euro price for a 50 percent stake is significantly less than the government had previously envisaged for a planned 40 percent holding: up to 7.2 billion euros had been earmarked for that earlier proposed deal in June, Reuters reported. Spiegel magazine first reported the purchase price; citing parliamentary sources, it said the price was based on an 11.2 billion euro valuation for KNDS ahead of the company's shelved initial public offering, plus a 1 billion euro premium.

Source: Reuters via Global Banking & Finance, Nov 10, 2026

50 percentStake Germany is buying in KNDS
6.6 billion eurosPrice reported by Reuters ($7.41 billion)
11.2 billion eurosPre-IPO valuation the price was based on, per Spiegel via Reuters
7.2 billion eurosAmount earlier earmarked in June for a smaller 40 percent holding

Why Berlin wants the stake

According to a finance ministry document prepared for parliament's budget committee, Germany aims to match France's influence in KNDS and avoid being outvoted on key decisions, Reuters reported. KNDS was formed in 2015 through the merger of French state-owned Nexter and Germany's family-owned Krauss-Maffei Wegmann, and produces the Leclerc and Leopard 2 main battle tanks, AFP noted.

Source: Reuters via Global Banking & Finance, Nov 10, 2026; AFP via Robo Daily, Nov 10, 2026

The German government declined to comment on confidential details of ongoing negotiations, saying only that the planned investment was 'an important decision at a time when the security situation in Europe is changing significantly', Reuters reported. The shareholder families declined to comment.

Source: Reuters via Global Banking & Finance, Nov 10, 2026

Germany would initially acquire the families' stake, with Berlin and Paris planning to reduce their holdings to 40 percent each through a future initial public offering if market conditions permit, according to the government document reported by Reuters. That would leave both states as equal leading shareholders of one of Europe's biggest armoured-vehicle makers while keeping a public listing as a later option.

Source: Reuters via Global Banking & Finance, Nov 10, 2026

What is solid

  • Germany agreed last week to buy the family owners' 50 percent stake in KNDS — Reuters, citing a government document
  • The price reported on Tuesday is 6.6 billion euros (Reuters) / 6.64 billion euros (AFP, parliamentary source)
  • France owns the other 50 percent through its state holding in Nexter's successor — Reuters/AFP
  • Berlin and Paris plan eventually to cut their holdings to 40 percent each via a future IPO if conditions permit — Reuters

What is only claimed

  • The exact price — Reuters reported 6.6 billion euros and AFP 6.64 billion euros; the German government itself declined to comment on confidential negotiation details
  • Whether the budget committee approves the price on Thursday — AFP reported a decision is expected then; it has not yet happened

What happens next: the Bundestag budget committee is expected to take its decision on the purchase price on Thursday, according to AFP's parliamentary source. A signed deal would make the German and French states equal owners of KNDS at a moment when European governments are expanding defence production in response to Russia's war in Ukraine — the context Berlin itself cited, calling the investment an important decision as Europe's security situation changes significantly.