Private equity groups have approached Linde to talk about its forklift business, the Financial Times has reported.

According to the report, 13 private equity bidders have done provisional work on the possible value of the division and sought meetings with management.

An unnamed source close to Linde told the Financial Times investment groups like Kohlberg Kravis Roberts, Apax Partners, Blackstone and Cinven had expressed interest. The report said Linde had not appointed an investment bank to handle the sale but had begun establishing a "data room" on the division with the help of accountants.

Linde spokesperson Uwe Wolfinger would not comment on the report. Linde has been quiet on a possible sale of its forklift division but said it was considering "strategic options" (Forkliftaction.com News #250).

Linde's materials handling division employed 12,024 workers and made an operating profit of EUR223 million (USD277.6 million) at the end of 2005.