Terex Completes Sale Of Konecranes Shares

06 September 2017

Terex Corp. announced it has completed the sale of 5.15 million Class A shares representing approximately 6.5% of the total shares outstanding of Konecranes Plc at a price of €36.50 per share.

The trade date of the transaction is Sept. 6, and settlement of the transaction is expected to occur on Sept. 11.

“With today’s sale, Terex has sold its remaining Konecranes shares,” said John L. Garrison, Terex president and chief executive officer. “When we announced the sale of MHPS (Material Handling and Port Solutions) in May 2016, the Konecranes shares that Terex was to receive were worth approximately $456 million.

“In total, Terex will have received approximately $773 million for the sale of those shares, bringing the total consideration received by Terex for the disposition of MHPS to approximately $1.6 billion. These amounts demonstrate the significant value to Terex shareholders that was created by the sale of our MHPS segment and the Konecranes-MHPS combination.”

Terex finalized the sale of its MHPS business to Finland-based Konecranes early this year.

STAY CONNECTED



Receive the information you need when you need it through our world-leading magazines, newsletters and daily briefings.

Sign up

POWER SOURCING GUIDE

The trusted reference and buyer’s guide for 83 years

The original “desktop search engine,” guiding nearly 10,000 users in more than 90 countries it is the primary reference for specifications and details on all the components that go into engine systems.

Visit Now

CONNECT WITH THE TEAM
Becky Schultz Vice President of Content Tel: +1 480 408 9774 E-mail: [email protected]
Julian Buckley Editor Tel: +44 (0) 1892 784088 E-mail: [email protected]
Chad Elmore Managing Editor Tel: +1 262 754 4114 E-mail: [email protected]
Josh Kunz Power Progress Brand Manager Tel: +1 414 379 2672 E-mail: [email protected]
Roberta Prandi Power Progress International Brand Manager Tel: +39 334 6538183 E-mail: [email protected]
CONNECT WITH SOCIAL MEDIA