KNDS, Triton Reach Agreement After Spat Over Renk Stake
A Leopard 2 A8 main battle tank at the KNDS NV stand during the IDET ahow in Brno, Czech Republic.
Photographer: Milan Jaros/BloombergInvestment firm Triton Partners has agreed to transfer about half of its shares in gearbox maker Renk Group AG to Franco-German defense company KNDS NV, settling a dispute that has dragged on since February.
Triton on Monday said in a statement it would transfer 9,166,667 shares in the settlement, which increases KNDS’s current stake in Renk to 15.8%. KNDS had sought to expand its 6.7% stake to 25% before the conflict with Triton.