Helsinki Times - Helsinki Times | Kone to acquire TK Elevator in record €29.4bn deal
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Finnish lift maker Kone announced a €29.4 billion acquisition of its German rival TK Elevator, the biggest corporate deal in Finland’s history, which will create the world’s largest lift‑and‑escalator operator with about €20.5 billion in annual revenue, over 100,000 employees and service for more than three million units across 100 countries. The transaction will be financed with roughly €5 billion in cash and the balance in newly issued Kone shares, backed by Bank of America and BNP Paribas, and will leave chairman Antti Herlin retaining control of over half the voting rights. Kone expects about €700 million in annual cost savings from integrated maintenance, procurement and administration, while the combined group will benefit from Kone’s strong Asian presence and TK Elevator’s footprint in the Americas. The deal, which also includes restructuring TK Elevator’s €9 billion debt, is subject to shareholder and regulatory approvals and could close as early as 2027, with Kone’s shares rising on the announcement.
Read more: https://www.helsinkitimes.fi/business/28778-kone-to-acquire-tk-elevator-in-record-29-4bn-deal.html
#Kone #TKElevator #BankofAmerica #AnttiHerlin #PhilippeDelorme #UdayYadav
Schindler rechnet mit langer Überprüfung der Kone-TK-Fusion
Der Schweizer Lift- und Rolltreppenhersteller Schindler zeigt sich unbeeindruckt von der angekündigten Mega-Fusion der beiden Konkurrenten Kone und TK Elevator. Die Ankündigung der Fusionsvereinbarung habe "keine Auswirkungen" auf Schindler, teilte eine Sprecherin am Mittwochnachmittag auf Anfrage der Nachrichtenagentur AWP mit. #ThyssenKrupp #Kone #Schindler #news
AWP veröffentlicht eine kleine Auswahl an Nachrichten auf den Sozialen Medien. Sie finden uns auf Mastodon unter @[email protected] und auf Twitter unter @awp.de.
US Top News and Analysis | Finland’s Kone to buy German rival TK Elevator in blockbuster $34.4 billion deal
AI generated summary, Read the full article for complete information.
Finland’s elevator giant KONE announced a landmark €29.4 billion ($34.4 billion) cash‑and‑share takeover of German rival TK Elevator, creating the world’s largest elevator manufacturer and surpassing U.S.‑based Otis and Switzerland’s Schindler. KONE said the merger would deliver roughly €700 million of annual synergies and noted strong shareholder backing, with over 40 % of shares representing 74 % of votes supporting the deal. TK Elevator, which spun off from Thyssenkrupp in 2020 after a €17 billion private‑equity buyout, welcomed the union, emphasizing a shared respect and a brighter future for customers and cities. The transaction is expected to face antitrust scrutiny, as rival Schindler has signaled it will challenge the merger before regulators.
Read more: https://www.cnbc.com/2026/04/29/kone-tk-elevator-deal-europe-business.html
#Kone #TKElevator #Otis #Schindler #PhilippeDelorme #UdayYadav
RE: https://mastodon.online/@bahnoev/116268715068916081
Der Artikel ist in mehrfacher Hinsicht lesenswert. U.a. ein Lehrstück zu Globalisierung und Oligopolen. #Kone
Zitate:
>> Möglicherweise wollte sich die Bahn teure Kone-Service-Verträge sparen. Möglicherweise bereut sie das gerade. <<
>> "Unsere KONE-Kunden haben Vorrang." Die Bahn ist kein Kone-Kunde. <<
>> Die Deutsche Bahn wurde schon Opfer eines Bierkartells, eines Stahlkartells (Spitzname "Schienenfreunde"), und, genau, eines Aufzugs- und Rolltreppenkartells. <<
#Kone Foundation reception for grant researchers and artists is underway! Our enactive close reading project proudly and joyfully representing. 🥂😎🎩
#CognitiveLiteraryStudies
#CloseReading #UniversityOfHelsinki @esko @annaovaska #SamuliBjörninen
Edit: photo by Timo Kalliokoski