# Konecranes acquires full ownership of MHE-Demag in Southeast Asia

Konecranes signed an agreement to acquire the 50% stake held by Jebsen & Jessen in its MHE-Demag joint venture for approximately €147 million, gaining full ownership of the industrial crane and service provider in Southeast Asia.

- Type: Acquisition
- Announced: 2020-02-26
- Where: Singapore
- Value: $160.0M (147.0M EUR)
- Status: announced
- Products: industrial cranes, hoists, services
- 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)

## Sources

- [hoistmagazine.com](https://www.hoistmagazine.com/news/konecranes-takes-full-ownership-of-mhe-demag-in-southeast-asia-7793731/), 2020-02-26: "This acquisition underlines our intent to pursue profitable growth, and meaningfully expands our footprint in a strategically important region with several fast-growing markets."

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