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Goldman, KKR to sell 10.8 pct stake in forklift maker Kion
January 7, 2014 / 5:11 PM / 4 years ago

Goldman, KKR to sell 10.8 pct stake in forklift maker Kion

FRANKFURT, Jan 7 (Reuters) - Goldman Sachs and private equity firm KKR will sell a 10.8 percent stake in German forklift maker Kion Group AG starting immediately, Goldman said in a statement on Tuesday.

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.

Bookbuilding for the stake placement of 10,681,388 shares will start immediately, Goldman Sachs said in a statement.

A 10.8 percent stake would be worth about 330 million euros ($450.20 million), according to Reuters data. The stock priced in June at 24 euros per share and closed on Tuesday at 30.75 euros.

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