KONE Corporation to Acquire TK Elevator in Landmark Transaction

Hannes Snellman is advising KONE Corporation on its historic acquisition combining KONE with TK Elevator. With its global reach, the cash-and-share transaction is valued at approximately EUR 29.4 billion, representing the largest corporate transaction ever announced by a Finnish company and one of the largest transactions ever in Europe.

“This landmark transaction is exceptional both in scale and in significance — not only to KONE but to Finland as a nation. The combination will elevate and, to an extent, transform the Finnish industrial ecosystem while sustaining the core of KONE, its investment-grade credit rating and shareholder structure with the majority shareholder who has for decades promoted the success of the company. This transaction will be remembered for the rest of our professional careers. Congratulations to KONE and Finland”, says Mikko Heinonen on behalf of the whole Hannes Snellman team.

Our core team comprises Mikko Heinonen, Thomas Landell, Anniina Järvinen, Riikka Rannikko, Klaus Ilmonen, Jon Termonen, Agda Vähä‑Piikkiö, Viivu Kilkku, Johan Kontio, Jatro Pihlavamäki, Claes Backström, Tobias Palmgren, Samuel Åkerlund, Anni Ollus, and Hanna‑Mari Mudi (M&A and Corporate), Mikko Huimala, and Niko Haarahiltunen (Competition), Markus Bremer, Matias Moberg, Pauliina Sutinen, Ruusa Jumppanen, and Samuel Hardy (Finance), Sanna Honkinen, Anna Nyberg, and Annika Sillanpää (Employment), Heikki Vesikansa, Harri Vehviläinen, and Antti Louhivuori (Tax), Panu Siitonen, Axel Hård af Segerstad, and Hilma Mäkitalo‑Saarinen (IP&Tech), Minna Juhola (RA), Ricardo Gomes (DR), and Emil Çevirel (KM).

For further details, see KONE’s press release on the transaction here.