# Konecranes and Cargotec agree to divest Konecranes Lift Trucks and Kalmar Automation Solutions

As part of their merger, Konecranes and Cargotec have submitted commitments to the European Commission to divest Konecranes Lift Trucks and Kalmar Automation Solutions to satisfy competition concerns.

- Type: Acquisition
- Announced: 2021-12-09
- Value: $164.0M (222.0M SGD)
- Status: announced
- Products: lift trucks, automation solutions
- Sectors: [Material Handling](https://endata.com/sectors/material-handling.md)

## Companies

- [Konecranes](https://endata.com/companies/511.md)
- [Konecranes](https://endata.com/companies/511.md) (acquirer)
- [Cargotec](https://endata.com/companies/1832.md) (partner)
- [MHE-Demag](https://endata.com/companies/16426.md) (target)
- [Jebsen & Jessen](https://endata.com/companies/16503.md) (partner)

## Sources

- [worldcargonews.com](https://www.worldcargonews.com/legal-regulatory/2021/12/konecranescargotec-merger-agreement-to-divest-konecranes-lift-trucks-and-kalmar-automation-solutions/), 2021-12-09: "The companies have submitted commitments to the European Commission to satisfy competition concerns."
- [rajahtannasia.com](https://www.rajahtannasia.com/our_deals/divestment-of-stake-in-mhe-demag/), 2022-01-08: "Jebsen & Jessen’s S$222 million divestment of its 50% stake in MHE-Demag to Finnish-listed company, Konecranes."

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