France and Germany agree on KNDS governance amid defense cooperation shifts
France and Germany have reached an agreement on the strategy and governance of the Franco-German defense group KNDS, signaling continued cooperation in terrestrial armament despite recent setbacks in joint projects.
The German government and the Elysée announced an agreement on the strategy and "paritaire" governance for KNDS, a Franco-German defense group. This accord, revealed on June 22, signifies continued cooperation in terrestrial armament, despite the recent abandonment of the Franco-German-Spanish SCAF combat aircraft project. KNDS is jointly owned by the French state and a German family. Separately, the group's valuation has reportedly been affected by a decline in the stock market performance of the larger German arms manufacturer Rheinmetall, ahead of KNDS's planned stock market entry. This development underscores ongoing efforts to strengthen bilateral defense ties in specific sectors.
Sources: Le Monde