Wiesbaden, 5 November 2006 - Linde AG, Wiesbaden, has completed its review of the strategic options for its forklift division KION Group. The company has been sold to a consortium comprising the financial investors Kohlberg Kravis Roberts & Co. (KKR) and Goldman Sachs Capital Partners at a price of 4 billion euro. A contract has accordingly been signed today. The validity of the contract will be dependent on approval being received from the appropriate competition authorities.
The enterprise value of 4 billion euro consists of 3.6 billion net equity value plus 400 million euro of net financial liabilities assumed, i.e. the balance of pension obligations, net lease obligations and net liquidity. KKR/Goldman Sachs will honour all the agreements on safeguarding locations made by the Linde Executive Board with employee representatives in summer 2005.
The KION Group, which the Linde Group established as a new, legally independent umbrella company for its three forklift truck and industrial equipment brands, Linde, STILL and OM, currently has more than 20,000 employees. In the 2005 financial year, the division achieved sales of around 3.6 billion euro.
For further information:
Press
Uwe Wolfinger
Telephone: +49.611.770-264
Mobile: +49.163.770 7130
Investor Relations
Thomas Eisenlohr
Telephone: +49.611.770-610
Mobile: +49.160.989 55 191
Kohlberg Kravis Roberts & Co.
Alexander Geiser
Telefon: +49.69.92 18 74-72
Mobile: +49 173 2121 371
Goldman Sachs Capital Partners
Christian Kroos
Telefon: +49.69.7532 2646
Mobile: +49 172 684 9321