Kone nears €29 billion deal to acquire TK Elevator

9 articles · Updated · Bloomberg · Apr 28

The Finnish company is finalizing a cash-and-stock transaction with TK Elevator’s owners, Advent and Cinven, potentially announcing the agreement as soon as Wednesday.
The deal values TK Elevator at approximately €29 billion, including debt, marking one of Europe’s largest private equity exits.
If completed, the acquisition would significantly expand Kone’s global elevator business and reshape the competitive landscape of the industry.

With a rival's challenge looming, which parts of the business will Kone be forced to sell?

Why are TK Elevator’s owners rushing to sell while the company publicly touts an IPO?

Is Europe's IPO market so broken that a mega-sale is the only viable exit strategy?

Will creating the world's top elevator maker lead to thousands of layoffs across the globe?

Is the industry’s 'service-first' model just a trap to stifle competition and innovation?