Paul Hastings Reps Shandong Heavy In $930M Kion Stake Buy

Law360, New York (August 31, 2012, 12:14 PM EDT) -- China's Shandong Heavy Industry Group-Weichai Group has agreed to pay €738 million ($930 million) for a minority stake in private equity-backed German forklift manufacturer Kion Group GmbH and a controlling interest in its hydraulics business, the pair said Friday.

The deal brings Shandong Heavy — one of the world's leading industrial truck and hydraulic equipment manufacturers — into the fold as an anchor investor in Kion, alongside KKR & Co. LP and Goldman Sachs Capital Partners. Shandong Heavy now holds a 25 percent stake in the...
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