KNDS has exercised the option to increase the shareholding in RENK from 6.7% to 25.1%, marking a new phase in their strategic partnership. (KNDS)
To further strengthen strategic partnership
KNDS N.V. and RENK Group AG announced on February 11 that KNDS has exercised the option to increase the shareholding in RENK from 6.7% to 25.1%, marking a new phase in their strategic partnership. The completion of the transaction will be subject to merger control and other regulatory approvals.
The exercise of this option underscores the commitment of both companies to deepen their cooperation, to leverage their combined expertise, foster innovation, and enhance value creation for their stakeholders whilst ensuring that the RENK Group AG retains its role as an independent leading provider for vehicle mobility solutions to their global platform customers.
„At KNDS, we have strong confidence in RENK and its management. With this step, we are reaffirming our commitment to a long-term cooperation, with an independent and highly reliable partner,“ said Philippe Balducchi, CEO of KNDS N.V.
„The commitment of KNDS will have a lasting impact on our cooperation and strengthen our role as a leading manufacturer of mission-critical propulsion solutions in various military end markets,“ said Dr. Alexander Sagel, CEO of RENK Group AG.
