IG Metall Seeks German Ownership Parity in KNDS IPO
IG Metall urges Berlin to take a larger stake in tank maker KNDS to ensure parity with France. The move aims to protect German jobs and technology in the IPO.
A senior labor representative in Germany has called for the government to ensure it maintains equity parity with France during the upcoming initial public offering (IPO) of KNDS, the manufacturer of the Leopard tank. The listing, which could value the defense giant at approximately 20 billion euros ($23 billion), is expected to take place in June or July.
Juergen Kerner, the deputy head of the IG Metall union, emphasized that Berlin must secure more than a 25% blocking minority to protect domestic technology and employment. Kerner argued that ownership parity is essential for safeguarding industrial interests and that the German government must act decisively before the market debut.
