Terex Divests 7.45 million shares of Konecranes

Terex Corporation (TEX) today announced it has completed the sale of 7.45 million Class A shares representing 9.5% of the total shares outstanding of Konecranes Plc at a price of EUR 34.50 per share, a 3.25% discount to yesterday’s closing price. Total shares outstanding includes both Class A and Class B shares but does not include Konecranes treasury shares.

The trade date of the transaction will be today, February 15, 2017, and settlement of the transaction is expected to occur on February 20, 2017 (a T+3 settlement process).

Following the offering, Terex will continue to hold approximately 12.15 million Class B shares, representing approximately 15.5% of the total shares outstanding of Konecranes.

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