# Cargotec and Konecranes provide update on planned merger

Cargotec and Konecranes continue dialogue with competition authorities regarding their planned merger, with remedy requirements more complex than expected. They have offered to divest Konecranes' Lift Truck business and Cargotec's Kalmar Automation Solutions, and aim to complete the merger by the end of H1 2022.

- Type: Acquisition
- Announced: 2022-02-03
- Where: Australia
- Value: $5.00B
- Status: announced
- Products: cargo handling solutions, lift trucks, automation solutions
- Sectors: [Material Handling](https://endata.com/sectors/material-handling.md)

## Companies

- [Cargotec](https://endata.com/companies/1832.md)
- [Konecranes](https://endata.com/companies/511.md) (target)
- [Cargotec](https://endata.com/companies/1832.md) (acquirer)

## Sources

- [arvopaperi.fi](https://www.arvopaperi.fi/porssitiedotteet/a/b9218913-abfd-5989-8b50-346562b1894d), 2022-02-03: "Based on ongoing dialogue with the authorities the remedy requirements are more complex than expected."
- [accc.gov.au](https://www.accc.gov.au/media-release/accc-consults-on-divestiture-proposal-for-cargotec-konecranes-merger), 2022-02-23: "The ACCC is seeking views on court enforceable undertakings proposed by each of Cargotec and Konecranes in relation to their proposed merger."
- [reuters.com](https://www.reuters.com/business/cargotec-konecranes-win-eu-antitrust-approval-5-bln-merger-2022-02-24/), 2022-02-24: "Cargotec and Konecranes win EU antitrust approval for $5 bln merger"
- [scceu.org](https://scceu.org/cargotec-konecranes-merger-clears-hurdle-with-eu-conditional-approval/), 2022-02-25: "The European Commission’s conditionally approval of the planned merger between Konecranes requires the divestment of Konecranes’ Lift Truck business and Cargotec’s Kalmar Automation Solutions."

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