Kone to buy rival TK Elevator in $34.4 billion deal

Hitachi

29/04/2026 06:37

HELSINKI, April 29 (Reuters) - Finnish lift maker Kone KNEBV.HE said on Wednesday it had agreed to buy its German rival TK Elevator in a transaction valued at 29.4 billion euros ($34.40 billion), which would create ​the world's largest lift maker.

The deal with private equity firms Advent International and Cinven marks one of Europe's biggest takeovers this year and is also the highest valued company takeover in Finnish history.

($1 = 0.8546 euros)

 (Reporting by Anne Kauranen in Helsinki, editing by Terje Solsvik)

 ((anne.kauranen@thomsonreuters.com; +358 40 189 5560;))