Hong Kong media said that Weichai Power announced that the Group has increased its holding of the 2,050,000 shares of KION Group AG, a non-wholly-owned subsidiary of Germany, from the secondary market through Barclays Bank, with a consideration of approximately 150 million euros (equivalent to About 1.374 billion Hong Kong dollars).
According to the Hong Kong "Economic Daily" website reported on July 4, after the completion, the company's shareholding in KION increased from about 43.26% to 45%.
According to the reporter's understanding, on September 3, 2012, Weichai Power Company of Shandong Heavy Industry Group and Germany KION Group signed a strategic cooperation agreement in Jinan. KION Group divested the related assets, personnel and contracts of Linde Hydraulics and established independence. The legal entity 'Lind Hydraulics', Weichai Power acquired a 70% controlling stake in the new company and a 25% minority interest in the KION Group for 738 million euros. The transaction was held in Weiss, Germany on December 27, 2012. Baden successfully completed.
KION Group is one of the world's top industrial forklift manufacturers and a global leader in hydraulic technology. Through this transaction, Weichai Power has entered the world's leading forklift and high-end hydraulics, which helps to adjust its product structure and The overall upgrade of the industry. Among them, the Linde hydraulic assets under the KION Group is the core content of this M&A activity.
According to the data, Weichai Power has increased its shareholding in KION after several times in 2012. It has become the largest shareholder of KION.
Data Figure: September 3, 2012, Chairman of Shandong Heavy Industry Group, Chairman and CEO of Weichai Power Tan Xuguang (second from left), CEO of Germany KION Group Gordon Riske (first from left), Goldman Sachs Group Germany, Austria and Central and Eastern Europe CEO Alexander Dibiusiu attended the press conference. On the same day, Weichai Power and the German KION Group signed a strategic cooperation agreement in Jinan.