Ministry of Commerce in China approves Konecranes’ pending acquisition of Terex’s MHPS business
Konecranes has received approval from the Ministry of Commerce, the competition authority in China, for its pending acquisition of Terex’s MHPS business (“MHPS Acquisition”). Completion of the MHPS Acquisition remains subject to additional customary closing conditions. The previously received approval of the European Commission is conditional on a commitment by Konecranes to divest its STAHL CraneSystems business. Furthermore, Konecranes and Terex are not allowed to close the MHPS Acquisition until the Commission has approved the buyer(s) of the STAHL CraneSystems business.