GERMANY - Kion Group up for private equity grabs

Private equity consortia are gathering to bid for Kion Group, the newly re-named material handling division of Linde, according to a report in German newspaper FAZ. Allianz Capital Partners and Permira have apparently clubbed together, with Apax and BC Partners also forming a bidding consortium. Goldman Sachs and KKR are apparently linking up, with CVC, Bain Capital and Blackstone also in the mix. Texas Pacific Group is reportedly no longer bidding for the asset.