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Merger prospectus agreed for Konecranes and Cargotec

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Dry Bulk,

Konecranes Plc and Cargotec Corporation announced on 1 October 2020 that the Boards of Directors of Konecranes and Cargotec have agreed upon the combination of the two companies by signing a combination agreement and a merger plan (Merger Plan), according to which Konecranes shall be merged into Cargotec through a statutory absorption merger in accordance with the Finnish Companies Act whereby all assets and liabilities of Konecranes shall be transferred without a liquidation procedure to Cargotec (Merger), and that the Boards of Konecranes and Cargotec unanimously recommend the Merger to their respective shareholders. The shareholders of Konecranes will receive new class A and class B shares in Cargotec in proportion to their shareholdings as merger consideration (Merger Consideration Shares). The Boards of Directors of Konecranes and Cargotec have on 2 November 2020 proposed that the Extraordinary General Meetings of Konecranes and Cargotec both convened to be held on 18 December 2020 would resolve upon the Merger as set forth in the Merger Plan.

The Finnish Financial Supervisory Authority has, on 3 December 2020, ap-proved the Finnish-language merger prospectus concerning the Merger (Merger Prospectus) prepared for the issuance of the Merger Consideration Shares to Konecranes’ shareholders. An English language translation of the Merger Prospectus (English Prospectus) and Swedish and German language translations of the summary will be notified to the financial supervisory au-thorities in Sweden and Germany.

The Merger Prospectus, the English Prospectus and the Swedish and Ger-man summary translations are available from 4 December 2020 online. In addition, the Merger Prospectus and the English Prospectus will be available on or about 7 December 2020 in print at the offices of Konecranes, Finland, at the offices of Cargotec, Finland, and at the reception of Nasdaq Helsinki in Finland.

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