FRANKFURT Jan 7 Goldman Sachs and
private equity firm KKR have placed a 10.8 percent stake
in German forklift maker Kion Group AG for a price of
29.50 euros a share, a source familiar with the transaction said
Earlier on Tuesday, Goldman Sachs said it will sell
10,681,388 Kion shares via an accelerated bookbuilding process.
Based on the 29.50 euros a share price the share sale is
worth about 315 million euros ($429 million). The placement is
being made at a discount of about 4 percent to Tuesday's closing
share price of 30.75 euros.
Kion, which listed on the Frankfurt stock exchange about six
months ago, is the world's second biggest maker of forklifts
after Japan's Toyota.