Konecranes’ approval from the European Commission for its pending acquisition of Terex’s MHPS business is conditional on a commitment from Konecranes to divest its STAHL CraneSystems business.
Furthermore, Konecranes stated that STAHL CraneSystems’ external sales totaled €145 million ($163.7 million) in 2015 and the company has approximately 700 employees.
To facilitate the divestment process, Konecranes announces that STAHL CraneSystems’ pro forma EBITDA on a stand-alone basis would have totaled approximately €30 million ($33.87 million) in 2015.
Konecranes will use the proceeds from the STAHL CraneSystems divestment to amortize loans related to the Terex acquisition. The closing of the acquisition is conditional to the European Commission’s approval of the buyer(s) of the STAHL CraneSystems business.
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