Krauss-Maffei Wegmann on its merger with Nexter Systems
Krauss-Maffei Wegmann GmbH & Co. ("KMW"), the European market leader for highly protected wheeled and tracked vehicles, agreed to merge with Nexter Systems S.A. ("Nexter"), the French state-owned defence group focusing on Defence Systems. The alliance of the two groups creates a leading European defence technology group with a current annual turnover nearing € 2bn and an order book of approx. € 9bn. The transaction represents a merger of equals between a French state-owned entity and a German family owned group. Steen Associates is acting as sole financial adviser to KMW.