Kone Plans TK Elevator European Asset Sale
Kone is planning to sell most of TK Elevator's European business to address antitrust concerns regarding its multi-billion-euro acquisition. The divestment aims to secure regulatory clearance for the massive deal.
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KONE OYJ-B plans to sell most of its target's European operations to secure antitrust clearance for its €29.4 billion acquisition of German rival TK Elevator, people familiar with the matter said during the autumn. The planned disposals target a business unit that generated €2.5 billion in revenue last year across Europe. Antitrust regulators are scrutinizing the transaction as it reshapes the global lift industry.
