FRANKFURT, Sept 6 Finnish crane maker Konecranes
is launching the sale of its German unit Stahl, which
it has to divest to get regulatory clearance for the acquisition
of the crane and container handling segment of U.S.-based Terex
, sources familiar with the matter said.
Konecranes has asked advisory boutique MCF Corporate Finance
to find a buyer for the unit which had 2015 earnings before
interest, taxes, depreciation and amortization of about 30
million euros ($33.5 million) on sales of 145 million euros,
Tentative bids for the unit, which may be valued at about
280-320 million euros, are due in October, they said.
"The process is going forward, we have assigned someone to
handle it and we expect (Stahl) to draw interest both from
industrial and private equity bidders," a Konecranes spokesman
MCF Corporate Finance was not available for comment.
Konecranes last month gained the European Commission's
conditional approval but needs the nod on the buyer before
concluding the acquisition to create the world's leading
provider of hoists, industrial cranes and handling
($1 = 0.8963 euros)
(Reporting by Arno Schuetze,; additional reporting by Jussi
Rosendahl; Editing by Ludwig Burger)