Work is continuing to complete the Cargotec Konecranes merger, with the two companies still in dialogue with relevant competition authorities “to find satisfactory ways to mitigate concerns raised by the competition authorities to secure approvals to complete the merger”.
In a joint statement, the would-be partners say the remedy requirements are “more complex than expected”.
Cargotec and Konecranes have discussed remedies with relevant competition authorities based on a commitment offered to the European Commission to divest Konecranes’ Lift Truck business and Cargotec’s Kalmar Automation Solutions. Both companies consider the offered remedy package as sufficient and feasible. Further investigations regarding the proposed remedies and negotiations with relevant competition authorities regarding antitrust concerns continue.
Cargotec and Konecranes are awaiting the authorities’ decisions and continue to work towards the merger being completed by the end of H1 2022.
Source: forkliftaction.com
Sign up to the XL Anchor monthly newsletter to be the first to receive exclusive content and industry news.
