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.


KONECRANES PLC


Miikka Kinnunen
Director, Investor Relations


FURTHER INFORMATION
Miikka Kinnunen, Director, Investor Relations, Konecranes Plc, tel. +358 (0)20 427 2050


Konecranes is a world-leading group of Lifting Businesses™, serving a broad range of customers, including manufacturing and process industries, shipyards, ports and terminals. Konecranes provides productivity-enhancing lifting solutions as well as services for lifting equipment and machine tools of all makes. In 2015, Group sales totaled EUR 2,126 million. The Group has 11,400 employees at 600 locations in 48 countries. Konecranes is listed on Nasdaq Helsinki (symbol: KCR1V).

 

 

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Nasdaq Helsinki

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www.konecranes.com