Independent journal on economy and transport policy
06:14 GMT+1
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Konecranes and Cargotec announce a merger project
The transaction will lead to the creation of a company that will be the world's leading manufacturer in the port and intermodal crane segment
October 1, 2020
The transaction will be carried out through a merger incorporation, with Cargotec that will absorb the Konecranes. The Planned design for Cargotec to issue new actions, without cargotec shareholders and in proportion to the shares by issuing two new A-class shares for class A action and two new Class B actions for each class A action. each Class B action, including new shares issued in the Cargotec for the company's own shares. Subsequently, Konecranes shareholders will receive as 0.3611 new Class A shares and 2.0834 cargotec's new B-class shares for each share of the Konecranes detained by them. As a result, shareholders Konecranes will own about 50% of the shares and votes cargotec as well as current shareholders I think it is a good thing that the At the end of the merger project, which is expected to be completed by the end of 2021, the new Cargotec will be Nasdaq Helsinki, the stock market where it is currently Shares of Konecranes and Cargotec are traded.
The merger is expected to save money 100 million euros a year, a figure that can be three years after the completion of the project. Konecranes and Cargotec have specified that the future it will have about 29,400 employees in more than 50 countries.
Meanwhile, Cargotec has confirmed its intention to pursue possible sale of Navis, a company that develops mainly aimed at the management of terminals ports and naval fleets, to the definition of the loading plans ships and task planning resources of railway and intermodal companies. Cargotec has It stated that the assessment of strategic alternatives Navis include new ownership structures and potential sale company's IT business.
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The transaction will be carried out through a merger incorporation, with Cargotec that will absorb the Konecranes. The Planned design for Cargotec to issue new actions, without cargotec shareholders and in proportion to the shares by issuing two new A-class shares for class A action and two new Class B actions for each class A action. each Class B action, including new shares issued in the Cargotec for the company's own shares. Subsequently, Konecranes shareholders will receive as 0.3611 new Class A shares and 2.0834 cargotec's new B-class shares for each share of the Konecranes detained by them. As a result, shareholders Konecranes will own about 50% of the shares and votes cargotec as well as current shareholders I think it is a good thing that the At the end of the merger project, which is expected to be completed by the end of 2021, the new Cargotec will be Nasdaq Helsinki, the stock market where it is currently Shares of Konecranes and Cargotec are traded.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
