Linde concludes the sale of its forklift truck division KION Group to
KKR/Goldman Sachs
Wiesbaden/Munich/London/Frankfurt, 28 December 2006 - Linde AG,
Wiesbaden, has concluded the sale of its forklift division KION
Group, agreed on 5 November 2006, at a price of 4 billion euro to the
consortium comprising the financial investors Kohlberg Kravis Roberts
& Co. (KKR) and Goldman Sachs Capital Partners. Following the receipt
of unconditional approval from the European Commission and from the
competition authorities in Switzerland and the United States, the
transaction was completed today in accordance with the letter of the
law.
The KION Group, with its three brands of forklift trucks and
warehouse equipment, Linde, STILL and OM, currently has over 20,000
employees. In the 2005 financial year, the division achieved sales of
around 3.6 billion euro. KION is a market leader in Europe and is
known for the highest levels of competence in terms of both
technology and service.
KKR and Goldman Sachs Capital Partners have announced that they will
work together with the management of the KION Group to implement
long-term strategies which will add value. The company will continue
to build on its world market position in material handling via
organic growth and selective external growth. In the medium term, the
KION Group will seek to achieve a stock market flotation.
For additional information:
Linde AG
Press
Investor Relations
Uwe
Wolfinger
Thomas Eisenlohr
Telephone:
+49.89.35757.1320
Telephone: +89.35757.1330
Mobile: +49.163.770
7130 Mobile:
+49.160.989 55191
Kohlberg Kravis Roberts & Co.
Alexander Geiser (Hering Schuppener)
Telephone: +49.69.92 18 74-74
Mobile: +49 173 2121 371
Goldman Sachs Capital Partners
Christian Kroos
Telephone: +49.69.7532 2646
Mobile: +49 172 684 9321
The Linde Group
The Linde Group is a world leading industrial gases and engineering
company with more than 53,000 employees working in around 70
countries worldwide. Following the acquisition of The BOC Group the
company has gases and engineering sales of approximately 12 billion
euro. The strategy of The Linde Group is geared towards
earnings-based growth and focuses on the expansion of its
international business with forward-looking products and services.
For more information, please see The Linde Group online at
http://www.linde.com
KION Group
The KION Group is a worldwide leading company for forklift trucks and
industrial equipment and is market leader in Europe. The company has
more than 20,000 employees and with its three brands Linde, STILL and
OM the KION Group achieved sales of around 3.6 billion euro. KION
stands for the highest level of technological competence. For more
information, please visit KION Group online at
http://www.kiongroup.com.
Kohlberg Kravis Roberts & Co.
Kohlberg Kravis Roberts & Co. (KKR) is one of the world's oldest and
most experienced private equity firms specializing in management
buyouts. Founded in 1976, it has offices in New York, Menlo Park,
London, Paris, Hong Kong and Tokyo.
Throughout its history, KKR has brought a long-term investment
approach to its portfolio companies, focusing on working in
partnership with management teams and investing for future
competitiveness and growth. Over the past 30 years, KKR has completed
146 transactions with a total value of more than US$260 billion. The
most important recent acquisitions were HCA, SunGard, Toys R Us, TDC,
VNU and NXP (former Philips Semiconductors). In Germany KKR has
become known through its investments in Wincor Nixdorf, A.T.U
Auto-Teile-Unger, "Der Grüne Punkt" - Duales System Deutschland, MTU
Aero Engines and Demag Cranes.
For more information, please visit www.kkr.com.
Goldman Sachs
Goldman Sachs is a leading global investment banking, securities and
investment management firm that provides a wide range of services
worldwide to a substantial and diversified client base that includes
corporations, financial institutions, governments and high net worth
individuals. Founded in 1869, it is one of the oldest and largest
investment banking firms. The firm is headquartered in New York and
maintains over 30 offices, amongst others in London, Frankfurt,
Tokyo, Hong Kong and other major financial centers around the world.
Goldman Sachs Capital Partners (GSCP) is the private equity arm of
Goldman Sachs and concentrates on corporate equity investing in major
transactions. Since its establishment in 1986, GSCP has invested over
$17 billion of equity in more than 250 companies globally. Notable
investments include Polo Ralph Lauren, Kinder Morgan and Kookmin
Bank. Significant investments in German-speaking countries include
Messer Griesheim, Kabel Deutschland, Cognis and Wincor Nixdorf. For
more information, please visit www.gs.com.
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WKN: 648300; ISIN: DE0006483001; Index: CDAX, DAX, Prime All Share,
HDAX;
Listed: Prime Standard in Frankfurter Wertpapierbörse, Amtlicher
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Amtlicher Markt in Bayerische Börse München, Amtlicher Markt in Börse
Düsseldorf,
Amtlicher Markt in Börse Stuttgart, Amtlicher Markt in Hanseatische
Wertpapierbörse zu Hamburg,
Freiverkehr in Niedersächsische Börse zu Hannover, Amtlicher Markt in
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