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KKR, Goldman to sell 10.8% Kion stake

8 Jan 2014

Kion forklift - AltAssets Private Equity NewsPrivate equity firm KKR and Goldman Sachs have decided to sell a 10.8 per cent stake in German forklift maker Kion Group.

The stake being sold by KKR and Goldman is worth €330m, according to a Reuters report. Kion was floated on the Frankfurt stock exchange last year.

Goldman and KKR bought out Kion in 2006 for $4bn including €400m of debt. KKR’s then head of European operations, Johannes Huth, said the firm’s medium-term objective was an IPO, but the plans were put on hold due to volatility in stock markets.

Earlier this month KKR revealed that it held a 6.8 per cent interest in computer chipmaker Marvell Technology Group.

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