WMF to be sold

Private equity firm KKR is preparing to sell German automatic coffee machine manufacturer WMF, according to media reports. The sale is expected to net about US$2 billion for KKR. The company,  which makes cutlery, pots and pans, as well as high-end coffee machines mainly for cafes and restaurants, will be sold either as a whole or in parts. KKR purchased a majority share of WMF for more than US$650 million in 2012, later acquiring the remaining shares to take full ownership of the company.