French President Emmanuel Macron and his Belgian counterpart Alexander De Croo approved the first phase of John Cockerill's acquisition of Arquus. Since January 2024, the Belgian group John Cockerill and its current owner, the Volvo Group, have been in negotiations about Arquus. On Monday, June 17, France and Belgium, President Emmanuel Macron and Belgian Prime Minister Alexander De Croo signed the memorandum of understanding on the sidelines of the European Council.
Belgian Prime Minister De Croo reminded Russia’s aggression against Ukraine and said, "As Europeans, we must deploy a genuine defence strategy. This means, in particular, supporting our defence industry to consolidate its activity and expertise in Europe.“ The CEO of the Belgian industrial group, François Michel, said in a press release, “
The expected acquisition of Arquus by John Cockerill is an important step in strengthening cooperation between Belgium and France in the field of defence and in consolidating the European defence industry.”
Belgium, through the Federal Holding and Investment Company (SFPIM), will acquire a 10 per cent stake in John Cockerill Defence. France will directly acquire a 10 per cent stake in the same capital.
