Konecranes acquires Terex Port Solutions but cancels merger
Konecranes has acquired Terex’s material handling and port solutions (MHPS) business segment for €1.1bn (US$1.3bn) and also agreed to terminate the previously announced merger with the Terex group.
Based on 2015 financials, Konecranes and Terex’s MHPS segment had aggregated sales of €3.5bn (US$4.0bn), adjusted EBITDA of €267m (US$302m), excluding synergies, and a total workforce of approximately 19,000.
Terex will receive US$820m in cash and 19.6m newly issued Konecranes class B shares, making Terex a 25% shareholder (calculated from shares outstanding on April 30, 2016).
You need a free subscription to read the entire article.
Subscribe
Subscribe for FREE and gain access to all our content.
More than 5000+ articles.
Related Posts
Other News
Container Management (cm) has been published for more than 30 years serving the port, terminal, intermodal and container handling equipment industries worldwide.
