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

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

#TIL about #TKElevator #Testturm 😮

Where they're testing high-speed elevators and can emulate an oscillating building caused by wind and earthquakes 👏

https://de.wikipedia.org/wiki/TK-Elevator-Testturm

https://en.wikipedia.org/wiki/TK_Elevator_Test_Tower (The English Wikipedia page is pretty empty compared to the German one, tho)

https://www.openstreetmap.org/relation/11528619

This is the most LOTR x engineering cross-over building I've seen so far 👁️ Located near #Rottweil #BadenWürttemberg

#Royal #Ransomware rivendica importante multinazionale siderurgica: leader mondiale nel settore ascensori #TKelevator #thyssenkrupp

Oltre 1000 sedi nel mondo.

📊Dati in piattaforma #DRM: https://lnkd.in/gfyj_3MH