Konecranes has sold Kito Corporation shares
On September 26, 2016, Konecranes announced that it will tender all its 5,950,000 Kito Corporation (“Kito”) shares to be repurchased by Kito. On September 27, 2016, Kito announced that it has conducted a share repurchase of 5,950,000 shares. In this transaction, Konecranes sold 5,873,900 Kito shares to Kito. After this transaction, Konecranes owns 76,100 Kito shares. Konecranes will receive approximately EUR 48 million from the sale of the shares and it will book a capital gain of approximately EUR 6 million as an associated company item in its January-September 2016 interim results.