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Wincor's increased earnings help Goldman, KKR cash out

January 27, 2005

The Deal.com: A weak dollar and a 50 percent increase in the share price of Wincor Nixdorf AG helped New York's Kohlberg Kravis Roberts & Co. and the private equity wing of Goldman, Sachs & Co. nearly quadruple their investment in the German cash register and ATM maker.

The two financial investors used an accelerated bookbuilding Jan. 27 to sell their remaining 33.6 percent stake in the company to institutional investors for €60 (U.S. $78.38) per share.

The sale raised an additional €333.5 million ($436 million), excluding fees, for KKR and Goldman. The pair had already pocketed about $530 million in dividends and from stock they sold during an initial public offering last spring.

Paderborn, Germany-based Wincor Nixdorf earlier this week gave another boost to its shares by increasing its full-year sales and earnings forecasts.

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