Breakingviews - Franco-German defence IPO hits private equity snag
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 16 2025
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Source: Reuters
KNDS and Renk Stake Dispute: KNDS, the Franco-German tank maker, is in a legal dispute with Triton Partners over a call option to increase its stake in Renk from 7% to 25%, which could significantly impact KNDS's plans for an initial public offering this year.
Renk's Financial Performance: Renk reported a 14.7% increase in revenue year-on-year for the last quarter, despite slightly missing market expectations, while order intake surged by 163.5%, indicating strong demand amidst fluctuating defense stock markets.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
