Shandong secures option to increase stake in Kion

Newswire

FRANKFURT, Dec 20 (Reuters) - Chinese firm Shandong Heavy Industry Group has obtained the option to increase its stake in Germany's Kion Group to a third, tightening its grip on the world's No.2 fork lift truck maker. Shandong unit Weichai Power was granted the option to acquire a further 3.3 percent in Kion in case of a flotation, Kion said on Thursday, without disclosing any financial details. This comes on top of an option it already has to raise its stake in ...

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