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Kone shareholders approve $34bn TK Elevator acquisition

privateequitywire

3 weeks ago

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Shareholders of Finnish elevator manufacturer Kone have approved the company’s proposed $34bn acquisition of German rival TK Elevator, which is backed by private equity firms Advent International, Cinven, according to a report by reuters.
The decision clears a key milestone for a deal set to create the world’s largest lift and escalator group in a deal that ranks among the largest European M&A deals in recent years and represents the biggest European sell-side private equity exit on record,...

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