Germany to buy 25% stake in KKR-backed defence supplier Hensoldt in a deal worth €464 million

The German government will buy a 25.1% stake in German defence supplier Hensoldt from private equity company KKR for 464 million euros ($562 million), people with knowledge of the matter said on Saturday.

The sources said the purchase is intended to ward off a foreign buyer from taking control of Hensoldt, whose high-tech cameras are used in Tornado fighter jets, and which listed its shares in an initial public offering (IPO) in September.

Hensoldt, a former Airbus unit, also supplies radar systems for Eurofighter jets and periscopes for Leopard and Puma tanks. KKR, which bought the company in 2016, retained a stake of more than 60% after the IPO.

Source: Reuters