Business / Companies

Shandong Heavy seeks stake in Germany's Kion

(China Daily) Updated: 2012-08-24 13:40

Shandong Heavy Industry Group Co Ltd, the Chinese construction machinery producer, is seeking a 25 percent stake in German fork-lift manufacturer Kion Group GmbH, according to a report in German newspaper Handelsblatt, citing sources with knowledge of the negotiations.

Wiesbaden-based Kion belonged to industry group Linde AG until 2006 and now is owned by finance houses Goldman Sachs Group Inc and KKR & Co LP.

With an expected price of around 700 million euro ($879m), the transaction would be the biggest investment yet by a Chinese company in Germany, Handelsblatt said.

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