Terex Corporation Completes Sale of 7.0 Million Shares of Konecranes Plc
May 23 2017 - 4:36PM
Business Wire
Terex Corporation (NYSE:TEX) today announced it has completed
the sale of 7.0 million Class A shares representing approximately
8.9% of the total shares outstanding of Konecranes Plc at a price
of EUR 37.40 per share, a 0.9% discount to today’s closing price.
Total shares outstanding includes both Class A and Class B shares
but does not include Konecranes treasury shares.
The trade date of the transaction will be tomorrow, May 24,
2017, and settlement of the transaction is expected to occur on May
30, 2017.
Following the offering, Terex will continue to hold
approximately 5.15 million Class B shares, representing
approximately 6.6% of the total shares outstanding of
Konecranes.
This press release does not constitute an offer to sell, or the
solicitation of an offer to buy, any securities of Konecranes Plc
by Terex Corporation or its subsidiaries, nor shall there be any
sale of such securities in any state, county or jurisdiction in
which such offer, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of such
state, county or jurisdiction. The shares are not registered under
the Securities Act of 1933, as amended, or the Securities Act, or
under any state securities law and may not be offered or sold in
the United States absent registration or an applicable exemption
from registration under the Securities Act and applicable state
securities laws. The shares will be offered only to qualified
institutional buyers in an offering exempt from registration
pursuant to Rule 144A under the Securities Act and to persons
outside the United States in compliance with Regulation S under the
Securities Act.
Forward Looking Statements:
This press release contains forward-looking information
regarding future events or Terex’s future financial performance
based on the current expectations of Terex Corporation. In
addition, when included in this press release, the words “may,”
“expects,” “intends,” “anticipates,” “plans,” “projects,”
“estimates” and the negatives thereof and analogous or similar
expressions are intended to identify forward-looking statements.
However, the absence of these words does not mean that the
statement is not forward-looking. Terex has based these
forward-looking statements on current expectations and projections
about future events. These statements are not guarantees of future
performance.
Actual events or the actual future results of Terex may differ
materially from any forward-looking statement due to these and
other risks, uncertainties and significant factors. The
forward-looking statements speak only as of the date of this
release. Terex expressly disclaims any obligation or undertaking to
release publicly any updates or revisions to any forward-looking
statement included in this release to reflect any changes in
expectations with regard thereto or any changes in events,
conditions, or circumstances on which any such statement is
based.
About Terex:
Terex Corporation is a global manufacturer of lifting and
material processing products and services that deliver lifecycle
solutions to maximize customer return on investment. The
company reports in three business segments: Aerial Work Platforms,
Cranes, and Materials Processing. Terex delivers
lifecycle solutions to a broad range of industries, including the
construction, infrastructure, manufacturing, shipping,
transportation, refining, energy, utility, quarrying and mining
industries. Terex offers financial products and services
to assist in the acquisition of Terex equipment
through Terex Financial Services. Terex uses its
website (www.terex.com) and its Facebook page
(www.facebook.com/TerexCorporation) to make information available
to its investors and the market.
Terex Corporation200 Nyala Farm Road, Westport,
Connecticut 06880Telephone: (203) 222-7170, Fax: (203) 222-7976,
www.terex.com
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version on businesswire.com: http://www.businesswire.com/news/home/20170523006564/en/
Terex CorporationBrian J. Henry, 203-222-5954Senior Vice
PresidentBusiness Development & Investor
Relationsbrian.henry@terex.com
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