Terex completed the sale of 7.45 million Class A shares representing 9.5% of the total shares outstanding of Konecranes at a price of €34.50 ($36.43) per share.
Total shares outstanding include both Class A and Class B shares but does not include Konecranes’ treasury shares.
The trade date of the transaction will be February 15, 2017, and settlement of the transaction is expected to occur on February 20, 2017 (a T+3 settlement process).
Following the offering, Terex will continue to hold approximately 12.15 million Class B shares, representing approximately 15.5% of the total shares outstanding of Konecranes.
Related
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- Konecranes wins EU conditional approval for Terex’s crane business buy, must sell Stahl Crane Systems
- Terex to Sell Port Business to Konecranes for $1.3 Billion
- Konecranes-Terex Boards Confirm Merger
