China’s Weichai could raise Kion stake to one third
Weichai Power, a Chinese automotive and equipment manufacturer owned by Shandong Heavy Industry, has obtained the option in increase its stake in German forklift truck maker Kion to one third. The company owns 25% of the business and already has an option to raise its stake to 30%.
Kion, which is backed by KKR and Goldman Sachs, said the option to buy another 3.3% would come into effect if it pursued a public listing. In September, Weichai paid EUR467 million ($619 million) for 25%...
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