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EU Sets July 2 Deadline For Decision On Cargotec-Konecranes Deal

By  |  May 31, 2021

EU antitrust regulators will decide by July 2 whether to clear the merger of Finnish engineering company Konecranes and cargo handling machinery maker Cargotec.

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    The companies, which announced the deal in October last year, sought approval from the European Commission last Friday, May 28, according to a filing on the EU executive’s website.

    The EU competition enforcer can either clear the deal with or without conditions after its preliminary review or it can open a four-month investigation if it has serious concerns.

    The Finnish government’s investment arm, Solidium, is the second-biggest shareholder in Konecranes with an 8.51% stake.

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