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Goldman, KKR to sell 10.8 percent stake in forklift maker Kion
January 7, 2014 / 5:15 PM / in 4 years

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

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

The Goldman Sachs logo is displayed on a post above the floor of the New York Stock Exchange, September 11, 2013. REUTERS/Lucas Jackson

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 (6201.T).

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. ($1 = 0.7330 euros)

Reporting by Thomas Atkins; editing by Edward Taylor

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