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Germany's Kion considering IPO in 2013
May 2, 2013 / 11:27 AM / 5 years ago

Germany's Kion considering IPO in 2013

FRANKFURT, May 2 (Reuters) - Germany’s Kion Group the world’s No.2 fork lift truck maker, said it may seek to float shares on the stock exchange this year.

“I can confirm that KION GROUP is considering a potential IPO in 2013,” a spokesman for Kion said in an e-mail on Thursday, adding that no decision had been taken yet.

Kion, split off from gases group Linde in 2006, is currently owned by the private equity arm of Goldman Sachs , buyout firm KKR and Chinese firm Shandong Heavy Industry Group.

In August 2012, Shandong unit Weichai agreed to pay 467 million euros ($616 million) for a 25 percent stake in Kion and a further 271 million for 70 percent of Kion hydraulics, a unit of the Wiesbaden, Germany-based firm.

Shandong has also secured the option to increase its stake in Kion to one third as part of an IPO.

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