The signing of the MoU took place on the sidelines of the informal European Council in Brussels, where EU leaders discussed the nominations for the top positions of the European institutions
THE French President Emmanuel Macron and its outgoing prime minister Belgium Alexander de Cro today signed a memorandum of understanding (MoU) to strengthen land defence, with the two countries each acquiring a 10% stake in John Cockerill Defense, the defense arm of Belgian industrial and engineering equipment company John Cockerill.
The signing of the MoU took place on the sidelines of the informal European Council in Brussels, where EU leaders discussed the nominations for the top positions of the European institutions.
A press release from the Belgian company John Cockerill states that this move will soon be formalized with the conclusion of an investment agreement that will determine the legal and financial framework.
The France-Belgium MoU comes five months after the signing of an agreement between Belgium’s John Cockerill Defense (a maker of light tank turrets) and Sweden’s Volvo to acquire French military vehicle maker Arguus.
The proposed acquisition “will contribute to the strengthening of cooperation between France and Belgium in an area of ​​strategic importance,” according to the John Cockerill company’s press release.
Source :Skai
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