Cargotec & Konecranes Provide an Update on Planned Merger

Source: www.gulfoilandgas.com 2/3/2022, Location: Europe

As previously communicated, Cargotec and Konecranes have continued their dialogue and cooperation with relevant competition authorities to find satisfactory ways to mitigate concerns raised by the competition authorities to secure approvals to complete the merger of Cargotec and Konecranes. Based on ongoing dialogue with the authorities the remedy requirements are more complex than expected.

Cargotec and Konecranes have discussed remedies with relevant competition authorities based on a commitment offered to the European Commission to divest Konecranes' Lift Truck business and Cargotec's Kalmar Automation Solutions. Both companies consider the offered remedy package as sufficient and feasible. Further investigations regarding the proposed remedies and negotiations with relevant competition authorities regarding antitrust concerns continue.

Cargotec and Konecranes are awaiting the authorities’ decisions and continue to work towards the merger being completed by the end of H1 2022. Until all merger closing conditions are met and the deal is completed, both companies continue to operate fully separately and independently.


Italy >>  11/8/2024 -  The acquisition of ESA Service S.r.l, (“ESA Service”), a company designing and manufacturing leak detection and gas recovery systems, has been comple...
Norway >>  11/6/2024 -  Akastor ASA (OSE: AKAST) and Mitsui & Co., Ltd, ("Mitsui") have today signed an agreement for the transfer of all of Mitsui's interests in AKOFS Offs...

Switzerland >>  11/6/2024 - AMPCO METAL, a global leader in copper-based alloys, is pleased to announce its acquisition of Switzerland-based Schmelzmetall Group, a renowned produ...
Turkey >>  11/6/2024 -  SCS Makina A.S. (“SCS”), an independent compressor distributor located in Adana, Türkiye, has become part of Atlas Copco Group.
<...


United States >>  11/6/2024 - Zeo Energy Corp. (Nasdaq: ZEO) ( “Zeo Energy”, or the “Company”), a leading Florida-based provider of residential solar and energy efficiency solution...
United States >>  11/6/2024 - Indiana American Water completed its $45 million acquisition of the Silver Creek Water Corporation (SCWC), as of November 6, 2024. The membership-owne...




Gulf Oil and Gas
Copyright © 2023 ICT All rights reserved. - Terms of Service - Privacy Policy.