KONE to Acquire TK Elevator for €29.4bn

KONE agreed to acquire TK Elevator in a €29.4 bn cash‑and‑stock transaction, including €5 bn cash and up to 270 m new shares.
The share component valued at €15.2 bn equals 33.8% of KONE’s share capital and 18.3% of voting rights, creating a €20.5 bn pro‑forma sales entity.
KONE targets €700 m pre‑tax cost synergies by year three and will refinance TK Elevator’s €9.2 bn net debt.
Chairman Antti Herlin retains >50% voting rights; his vehicle Security Trading Oy will buy €1 bn of shares post‑completion.