M&AIndustrialsRUMOURED
Kone Seeks to Retain TK Elevator's Iberian Business in €29bn Megadeal Review
Value
€29.0Bn
Acquirer
Kone
Target
TK Elevator
Liftmaker Kone is attempting to limit asset sales as it seeks Brussels' approval for its €29bn megadeal. Specifically, the company is seeking to retain TK Elevator's Spain and Portugal business in a move that will test the European Commission's appetite for regional champions.
✦ Meridian Analysis
Kone’s €29 billion megadeal remains a rumor, with the company reportedly seeking to keep the Spanish and Portuguese operations of TKElevator as part of the transaction.
Kone plans a sale of TK Elevator Europe to address antitrust concerns, according to Reuters.
Deal professionals will be watching for the European Commission’s approval of the €29 billion megadeal.
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