Skadden is advising KONE Corporation (KONE) in connection with its agreement to combine with TK Elevator (TKE), a portfolio company of a consortium led by Advent and Cinven, in a cash and share transaction with an enterprise value of €29.4 billion.
Completion is subject to, among others, regulatory approvals and the approval of the relevant elements of the transaction by the Extraordinary General Meeting of KONE, which is expected to be held in June 2026. Completion of the transaction is expected to occur in the second quarter of 2027 at the earliest.
KONE and TKE are global elevator and escalator companies.
The Skadden team includes Sandro de Bernardini, Sarah Knapp, Ken Schwartz, Giorgio Motta and Pete Coulton.