SOLIDIUM SUPPORTS THE COMBINATION OF KONECRANES AND CARGOTEC1.10.2020
Solidium supports the transaction announced today by Konecranes Plc and Cargotec Corporation to combine the two companies through a merger. The combined company will become the leading global player in port equipment and services, and other material flow related equipment and service businesses. The combined entity will have revenue close to EUR 7 billion with approximately 29,000 employees.
Solidium’s current shareholding in Konecranes is 8.5%. Following the transaction, the shareholding will account to 4.3%. The completion of the merger is subject to certain customary conditions, including the approval of the EGMs of both companies.
The biggest shareholders of both companies have irrevocably undertaken, subject to customary conditions, to vote in favour of the combination.
Further information: CEO Antti Mäkinen, tel. +358 (0)10 830 8905
Solidium is a limited company wholly owned by the State of Finland. Its mission is to strengthen and stabilise Finnish ownership in nationally important companies and increase the value of its holdings in the long term. The basis and core objective of Solidium's strategy is proper, value-enhancing asset management of its current holdings. Through its stakes, Solidium is a minority owner in twelve listed companies: Elisa, Kemira, Konecranes, Metso Outotec, Nokia, Nokian Tyres, Outokumpu, Sampo, SSAB, Stora Enso, TietoEVRY and Valmet. The market value of Solidium’s investments is approximately EUR 7.2 billion. Further information: www.solidium.fi