Kion, Springer 'may go public'
Kion Group GmbH, the world's second-largest maker of forklifts, and academic publisher Springer Science & Business Media are set to begin their initial public offerings in two of Germany's biggest listings this year, according to four people with knowledge of the matter.
Both Kion, which is majority owned by KKR & Co and Goldman Sachs Group Inc, as well as Springer Science, which is controlled by Swedish buyout firm EQT Partners AB, may announce their intention to float as early as the coming week, said the people, who asked not to be identified because the matter is private. EQT is also still accepting takeover offers this month and may scrap the IPO, they said.
The owners are seeking to tap a rally in equity markets, with the benchmark DAX Index gaining one-third in the last 12 months, with a growing appetite for companies in Germany, considered a safe-haven economy with global reach. IPOs in Europe, the Middle East and Africa have raised $7.4 billion this year, compared with about $4 billion in the same period in 2012, according to data compiled by Bloomberg.