Konecranes has commitment for $820 million acquisition of Terex segment

By Wendy Van Sickle

Columbus, Ohio, May 16 – Konecranes plc has a commitment arranged by Nordea and SEB for financing of the $820 million cash consideration of its acquisition of Terex’s material handling and port solutions segment and for the replacement of existing credit facilities and working capital post-acquisition, according to a press release.

Konecranes has agreed to buy the business segment for the cash sum and 19.6 million newly issued class B shares, which will make Terex a 25% shareholder.

The acquisition is expected to close in early 2017.

Konecranes is a Hyvinkaa, Finland-based provider of lifting solutions as well as services for lifting equipment and machine tools of all makes. Terex is a Westport, Conn.-based diversified equipment manufacturer.

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