Edition:
United States

Terex to sell remainder of its shares in Konecranes


Tuesday, 5 Sep 2017 12:00pm EDT 

Sept 5 (Reuters) - Block Trade - Terex Corp ::: ANNOUNCES INTENTION TO SELL REMAINDER OF ITS SHARES IN KONECRANES PLC, UP TO 5.15 MILLION CLASS A SHARES AND 6.54% OF TSO.: ASSUMING THE MAXIMUM NUMBER OF SHARES ARE SOLD IN THE PLACING, TEREX WILL NO LONGER HOLD ANY SHARES IN THE COMPANY.: PLACING SHARES ARE BEING OFFERED BY WAY OF AN ABB WHICH WILL BE LAUNCHED IMMEDIATELY FOLLOWING ANNOUNCEMENT.: PLACING PRICE WILL BE AGREED AT THE CLOSE OF BOOKBUILD PROCESS.: KONECRANES TO WAIVER REQUIREMENTS IN WHICH INVESTORS HAVE RIGHT TO PURCHASE UP TO C.2.37 MILLION SHARES PER INSTITUTION IN THE PLACING.: SETTLEMENT OF THE PLACING IS EXPECTED TO TAKE PLACE ON MONDAY, 11 SEPTEMBER 2017.