Finnish crane maker Konecranes has gained the conditional approval of the European Commission for the acquisition of the crane and container handling segment of U.S.- based Terex, the EU executive said on Monday in a statement.
To conclude the acquisition, Konecranes committed to sell its Stahl global business for cranes and other handling materials, the Commission said, stressing that this commitment was considered sufficient to preserve competition in Germany and France, the European markets most affected by the merger.
The Commission said that the deal cannot be completed before it has approved the buyer of the assets put up for sale.
The merger will create the world’s leading provider of hoists, industrial cranes and handling solutions. (Reporting by Francesco Guarascio, editing by Julia Fioretti)
