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Business

Government Moves to Protect Defense Companies

The German government is attempting to prevent foreign investors from buying large stakes in German defense companies in a bid to safeguard security and defense interests. A statement out of Berlin said the government will propose a bill to limit foreign investment in defense companies to below 25 percent after last year's €700m ($797million) takeover of Howaldtswerke Deutsche Werft, the world's leading conventional submarine maker, by Chicago-based venture capital firm One Equity Partners. The aim of the move is to “fortify Germany's security and defense interests,” according to the Financial Times Deutschland.