Kone and TKE strike $34 billion deal to create world's largest elevator maker - Reuters
Kone and TKE strike $34 billion deal to create world's largest elevator maker Reuters
Coverage by Political Leaning
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Notable Quotes
"For over a century, both KONE and TKE have successfully developed their businesses, in tandem with an urbanizing world. By uniting, we are laying the foundation for an even more innovative company..."
— Philippe Delorme , Executive
"This transaction reflects the Board's clear ambition to create the strongest possible foundation for long-term value creation."
— Antti Herlin , Executive
"Four years ago, we set out to build something genuinely great - a business defined by operational excellence, customer trust, and the conviction that extraordinary people... will always outperform."
— Uday Yadav , Executive
"TKE's journey has been an extraordinary one. Together with TKE's management team and employees, we are proud to have actively supported its carve out and transformation into the world-class strategic platform it is today."
— Bruno Schick , Executive
"Since acquiring TKE in 2020, we partnered closely with management and employees to navigate a complete change."
— Ranjan Sen , Executive
"We need more growing companies in the global top tier."
— Petteri Orpo , Politician
Key People
Chairman of the Board of Directors of KONE.
Co-Managing Partner at Cinven.
Prime Minister of Finland.
President and CEO of KONE.
Managing Partner at Advent.
CEO of TKE.
Locations
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<a href="https://news.google.com/rss/articles/CBMioAFBVV95cUxQV1IwcXlrQWdsa0E5V2o4SGdLclRwZ1NaWVVtVFJpX2ZOVnE2Zzhmc3dOdzNmM3NCWVQtS1RfNjN5RlR4Vm9UbWNmRnI5bkdqN09XODdjUWZhLVNpYkFpX2dGX3h6UEVOS3hQTUpTRjdVa2NhYl9fTFNFd2E5LXVlUEhqNGN6YXRhQS1ieHZqejREcnNBYk94S3JrSUhNczhN?oc=5" target="_blank">Kone and TKE strike $34 billion deal to create world's largest elevator maker</a> <font color="#6f6f6f">Reuters</font>
Finnish lift maker Kone has agreed to acquire German rival TK Elevator in a transaction valued at €29.4 billion ($34.4 billion), creating the world's largest lift manufacturer.
Kone Oyj is close to finalizing a cash-and-stock agreement to acquire TK Elevator, valuing the company at approximately €29 billion ($34 billion), marking one of Europe's largest private equity exits.
Finnish elevator maker Kone has agreed to acquire German rival TK Elevator in a €29.4 billion ($34.4 billion) deal, creating the world’s largest lift manufacturer with annual synergies of about €700 million.
Finnish lift maker Kone has agreed to buy its German rival TK Elevator in a transaction valued at €29.4 billion ($34.40 billion), creating the world's largest lift maker.
KONE Corporation and a consortium led by Advent and Cinven have entered into an agreement to combine KONE and TKE in a cash and share transaction, creating a world-class company in the elevator and escalator industry.
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