Kone has agreed to acquire rival TK Elevator, which is owned by Advent International and Cinven, in a €29.4bn ($34.4bn) transaction including debt, marking one of the largest private equity exits in Europe to date, according to a report by Bloomberg.
Completion on the cash-and-stock deal is not expected until Q2 2027 at the earliest, subject to regulatory clearances across multiple jurisdictions.
Following the transaction, the combined group will be headquartered in Finland and will roughly doub...
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