Nordea Securities to advise Kone on Partek takeover

Kone, the Finnish lift and escalator group, has appointed Nordea Securities as advisor on its bid to take over the Finnish engineering group Partek. Nordea Securities has advised Kone previously on around ten transactions. Kone recently submitted an offer to the Finnish Ministry of Trade and Industry to acquire the 30.2% of Partek owned by the Republic of Finland for EUR15.30 per Partek share, thus valuing the 30.2% holding at EUR 225m. Kone was set to make an offer for the remaining Partek shares for the same price, conditional upon obtaining 90% of the shares and votes in Partek.

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