Hoist it up

KKR is looking to float Demag Cranes, the German industrial crane maker it jointly owns with Siemens, on June 20. The private equity group is offering the shares at a price range of E26 to E31 each, valuing the business at up to E970m. This isn’t terribly cheap, given concerns that rising global interest rates may stifle economic growth. But KKR should be able to hoist it up - providing it is not too greedy. An unsuccessful deal would spoil its credentials in Germany, where, in the past two yea...