September 5, 2017 / 4:02 PM / 2 months ago

BRIEF-Terex to sell remainder of its shares in Konecranes

Sept 5 (Reuters) - Block Trade - Terex Corp:

* : ANNOUNCES INTENTION TO SELL REMAINDER OF ITS SHARES IN KONECRANES PLC, UP TO 5.15 MILLION CLASS A SHARES AND 6.54% OF TSO

* : ASSUMING THE MAXIMUM NUMBER OF SHARES ARE SOLD IN THE PLACING, TEREX WILL NO LONGER HOLD ANY SHARES IN THE COMPANY

* : PLACING SHARES ARE BEING OFFERED BY WAY OF AN ABB WHICH WILL BE LAUNCHED IMMEDIATELY FOLLOWING ANNOUNCEMENT

* : PLACING PRICE WILL BE AGREED AT THE CLOSE OF BOOKBUILD PROCESS

* : KONECRANES TO WAIVER REQUIREMENTS IN WHICH INVESTORS HAVE RIGHT TO PURCHASE UP TO C.2.37 MILLION SHARES PER INSTITUTION IN THE PLACING

* : SETTLEMENT OF THE PLACING IS EXPECTED TO TAKE PLACE ON MONDAY, 11 SEPTEMBER 2017 Further company coverage: (Bengaluru Newsroom)

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