Konecranes completes STAHL sale, Finland. News story in Forkliftaction News

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Konecranes completes STAHL sale

News Story

- 2 Feb 2017 ( #806 ) - Helsinki, Finland

1 min read

STAHL CraneSystems sale finalised

Konecranes has completed the divestment of its STAHL CraneSystems business to Columbus McKinnon Corporation.

The STAHL divestment is related to the European Commission's approval of Konecranes' acquisition of Terex Corporation's MHPS business, which was conditional on Konecranes divesting its STAHL CraneSystems business.

The final selling price was EUR224 million (USD242 million). Additionally, Columbus McKinnon assumed unfunded pension liabilities of around EUR67 million (USD72 million) as of December 31, 2016. Konecranes expects to book an after-tax capital gain of approximately EUR200 million (USD216 million) from the STAHL divestment in the first quarter of 2017.

Konecranes will use the proceeds from the STAHL CraneSystems sale to amortise the loans related to the MHPS acquisition.

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