Highlight 2 October 2020

Krogerus advises Hartwall Capital on the merger of Konecranes and Cargotec

Krogerus advised Hartwall Capital, the largest shareholder of Konecranes, on the EUR 4.3 billion merger of Konecranes and Cargotec.

The combined company will be a customer-focused global leader in sustainable material flow. Its illustrative combined annual sales are approximately EUR 7.0 billion and comparable operating profit is approximately EUR 565 million, based on financial year 2019 figures.

The proposed combination will be implemented as an absorption merger whereby Konecranes will be merged into Cargotec and Konecranes shareholders will receive new shares in Cargotec. Hartwall Capital, which now owns 10 per cent. of the shares in Konecranes, will as a result of the merger own 5 per cent. of the combined company.

Hartwall Capital is a Finnish, family owned investment company aiming to create sustainable value growth through active ownership. Hartwall Capital invests in listed and non-listed companies.

The Krogerus team was led by Managing Partner Mårten Knuts. He was mainly assisted by Senior Advisor Lennart Simonsen and Counsel Paul Raade.

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