Linde sells forklift unit Kion to KKR, Goldman

Frankfurt, Nov 6: German industrial gases firm Linde said it would sell its forklift business Kion to financial investors Kohlberg Kravis Roberts (KKR) and Goldman Sachs Capital Partners for 4 billion euros.

Linde, which wants to focus on its gas business, said in a statement the deal was pending anti-trust approval.

The company said the consortium would honour all guarantees Linde has given Kion's workers at its plants.

Linde said the deal put Kion's net equity value at 3.6 billion euros plus 400 million net liabilities.

''We are utterly convinced that KKR and Goldman Sachs have the right overall concept for the group,'' Linde Chief Executive Wolfgang Reitzle said in a statement yesterday.

Kion is an umbrella company for Linde's three forklift truck and industrial equipment brands.

Reuters