# Konecranes to acquire full ownership of MHE-Demag

Konecranes signed an agreement to acquire the remaining 50% stake in MHE-Demag from Jebsen & Jessen, targeting EUR 10 million annual synergies by 2022.

- Type: Acquisition
- Announced: 2019-12-05
- Where: Southeast Asia, Singapore
- Value: $163.0M (147.0M EUR)
- Jobs: 1,800
- Status: announced
- Products: cranes, material handling equipment
- Sectors: [Material Handling](https://endata.com/sectors/material-handling.md)

## Companies

- [Konecranes](https://endata.com/companies/511.md) (acquirer)
- [MHE-Demag](https://endata.com/companies/16426.md) (target)
- [Jebsen & Jessen](https://endata.com/companies/16503.md) (partner)
- [Jebsen & Jessen](https://endata.com/companies/16503.md) (target)

## Sources

- [konecranes.com](https://www.konecranes.com/en-sa/press-releases/konecranes-to-strengthen-its-market-position-in-southeast-asia-by-buying-full-ownership-of-mhe-demag), 2019-12-05: "Konecranes has signed an agreement to acquire the 50% stake in its MHE-Demag JV held by partner Jebsen & Jessen."
- [konecranes.com](https://www.konecranes.com/press-releases/konecranes-to-strengthen-its-market-position-in-southeast-asia-by-buying-full-ownership-of-mhe-demag), 2019-12-05: "Konecranes has signed an agreement to acquire the 50% stake in its MHE-Demag JV held by partner Jebsen & Jessen."
- [heavyliftpfi.com](https://www.heavyliftpfi.com/business/2019/12/05/konecranes-acquires-remaining-mhe-demag-shares/), 2019-12-05: "Konecranes will acquire Jebsen & Jessen’s shares in the MHE-Demag joint venture for approximately EUR147 million (USD163 million)."
- [heavyliftpfi.com](https://www.heavyliftpfi.com/shipping/2019/12/05/kone-cranes-buys-out-jebsen-jessen-of-joint-venture-mhe-demag/), 2019-12-05: "Konecranes has signed an agreement to acquire the 50% stake in its MHE-Demag JV held by partner Jebsen & Jessen for EUR 147 million."
- [cbinsights.com](https://www.cbinsights.com/company/mhe-demag), 2019-12-05: "On December 5, 2019 MHE-Demag was acquired by Konecranes."
- [inderes.fi](https://www.inderes.fi/analyst-comments/konecranes-tarkea-yhteisyritys-kokonaan-itselle), 2019-12-09: "Konecranes hankkii loput 50 % singaporelaisesta MHE-Demag-yhteisyrityksestä."
- [forkliftaction.com](https://www.forkliftaction.com/newsletter/archive/0953.htm), 2019-12-12: "Konecranes has signed an agreement to acquire the 50% stake in its MHE-Demag joint venture held by partner Jebsen & Jessen for approximately EUR147 million (USD163 million)."
- [konecranes.com](https://www.konecranes.com/press-releases/konecranes-has-completed-the-acquisition-of-mhe-demag), 2020-01-02: "Konecranes has today completed the acquisition of Jebsen & Jessen’s 50% stake in MHE-Demag, as announced on December 5, 2019."
- [heavyliftnews.com](https://www.heavyliftnews.com/konecranes-completes-acquistition-of-mhe-demag/), 2020-01-02: "Konecranes has today completed the acquisition of Jebsen & Jessen’s 50% stake in MHE-Demag, as announced on December 5, 2019."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.