German government buys stake in defence supplier Hensoldt

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The German government is shopping for a minority stake in defence supplier Hensoldt, an organization that derives from European plane producer Airbus’ former defence and safety electronics division, for safety causes.

The state-owned KfW improvement financial institution stated Monday that it was shopping for 25.1% of the shares in Hensoldt on behalf of the federal government in Berlin. That provides the government a blocking minority beneath German regulation.

KfW did not element the worth of the acquisition.

Germany’s Cabinet determined in December to purchase the stake in order to stop “unfriendly powers” from getting maintain of issues akin to sensors and encryption know-how for army use, information company dpa reported.

Among different issues, Hensoldt provides elements for Eurofighter planes.

Hensoldt has about 5,600 workers and had income of 1.2 billion euros ($1.4 billion) final 12 months. It relies in Taufkirchen, close to Munich.

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