KMW and Nexter announce their intention to merge – Steen Associates is acting as exclusive financial adviser to KMW
Krauss-Maffei Wegmann GmbH & Co. KG ("KMW") of Germany and Nexter Systems SA ("Nexter") of France, two leading European defence companies, are announcing today that they plan to merge. An agreement in principle was signed in Paris yesterday by the two companies and their shareholders, the privately-held Wegmann GmbH & Co. and the French state-owned GIAT Industries. The combined group will have revenue of approx. €2bn, an order book of approx. €6.5bn, and more than 6,000 employees.
The transaction is expected to be finalised in early 2015 and will be the largest transaction in the European defence industry for many years. Joerg Freimund, who is leading the transaction for Steen Associates, said, "This is an example of French and German cooperation in this sector as well as a major step forward in the consolidation of Europe's defence industrial supply base."
Steen Associates is the exclusive financial adviser to KMW on this transaction.
– Ends –
Notes to Editors:
Steen Associates Frankfurt Office
About Steen Associates
Steen Associates is an M&A advisory firm specialising in the aerospace, defence and industrial sectors. Steen has advised on a wide range of strategic transactions, predominantly in Europe and the USA, from its offices in London, New York and Frankfurt.
For more details about Steen Associates please visit www.steenassociates.com.
T: +44 (0)20 7405 5040
T: +49 69 770 1992 00