Konecranes to divest from STAHL

Konecranes has signed an agreement with McKinnon Corporation regarding the divestment of its STAHL CraneSystems business, a condition of the European Commission (EC)’s approval of the pending acquisition of Terex’s MHPS segment.

The Finnish equipment manufacturer and Terex are not allowed to close the MHPS acquisition until the EC approves the buyer of the STAHL CraneSystems business.

The divestment, which is expected to be completed by April 30 next year, is subject to the EC’s approval of Columbus McKinnon as a suitable purchaser, the German Bundeskartellamt’s merger control approval and the closing of the MHPS acquisition.