Hiab (at the time Cargotec) (the “Company”) announced on 14 November 2024 that it had signed an agreement to sell its MacGregor business to funds managed by Triton (the “Transaction”). The Transaction is subject to regulatory approvals in relevant jurisdictions.
Regulatory approvals have been obtained from other jurisdictions, including the European Union, but the approval from the Chinese State Administration for Market Regulation (SAMR) is still pending. The standalone preparations and carve out of MacGregor have progressed according to plan, and the closing of the Transaction is ready to be executed once the missing regulatory approval has been obtained. Hence, the closing of the Transaction is expected by 1 October 2025, later than initially expected 1 July 2025.
MacGregor has been reported as part of discontinued operations from the fourth quarter of 2024 onwards and the updated closing timetable is not expected to have significant financial impact on the Company.