Borenius advised the lenders on the financing of KONE Corporation’s landmark acquisition of TK Elevator

We acted as Finnish legal counsel to Bank of America and BNP Paribas as lenders in connection with the committed financing for KONE Corporation’s acquisition of TK Elevator (TKE), announced on 29 April 2026. Linklaters acted as lead counsel to the lenders.

The transaction, which values TKE at an enterprise value of EUR 29.4 billion, is the largest acquisition in Finnish corporate history and one of Europe’s largest takeovers in recent years. The combined group would have approximately EUR 20.5 billion in annual sales and more than 100,000 employees across over 100 countries. The acquisition will be financed through a combination of share consideration and cash, with the majority of TKE’s existing interest-bearing net debt expected to be refinanced as part of the transaction.

KONE Corporation is a global leader in the elevator and escalator industry. KONE’s class B shares are listed on Nasdaq Helsinki.