Kone Acquires TK Elevator for Nearly €30 Billion, Boosting Thyssenkrupp Shares
Daily Monitor
April 29, 2026
Kone Acquires TK Elevator for Nearly €30 Billion, Boosting Thyssenkrupp Shares
Kone has announced the acquisition of TK Elevator for approximately €30 billion, marking a significant consolidation in the elevator manufacturing sector.
The deal, finalized with TK Elevator’s primary owners, Advent and Cinven, exceeds the anticipated valuation range of €25 to €29 billion. This acquisition is poised to be one of the largest divestitures by a financial investor in Germany, following TK Elevator’s separation from Thyssenkrupp in 2020.
For journalistic integrity, this report was summarized from: handelsblatt.com