FRANKFURT May 26 Germany's Kion Group
, the world's second biggest maker of fork lift
trucks, and shareholder Shandong Heavy are getting
as much as 500 million euros ($647 million) in financing from
the China Development Bank to support their cooperation, Kion
The two companies will also be receiving unspecified
financial services from the bank as part of an agreement signed
on Sunday at a meeting between Chinese Premier Li Keqiang and
German Chancellor Angela Merkel, Kion said.
"The three parties agreed that [Shandong Heavy's unit]
Weichai Power and Kion will intensify their cooperation ... and
that China Development Bank will provide a full range of
financial services including financing of up to 500 million
euros to support the expanded collaboration," Kion said.
Kion and Weichai Power were not immediately available to
give more details.
The German company, together with its owners Goldman Sachs
, buyout firm KKR and 25-percent shareholder
Shandong Heavy, is monitoring the market for a potential share
sale, Kion Chief Executive Gordon Riske said, German paper
Frankfurter Allgemeine Zeitung reported on Saturday.
Shandong bought its stake in Kion Group for 467 million
euros in 2012, in what was the largest direct investment by a
Chinese company in a German firm.