Press release from the Competition Council regarding the economic concentration project concerning the indirect exclusive takeover by the company “KONE Corporation” of the company “TK Elevator Topco GmbH”

In accordance with Article 13 of Law No. 104-12 on freedom of prices and competition and Article 10 of Decree No. 2-14-652 adopted for its implementation, as amended and supplemented, the Competition Council makes available to the public the “operation summary” below, containing the information provided by the parties.

This information was prepared by the notifying parties, who are solely responsible. Any inaccurate or distorted information contained therein does not in any way prejudge the Competition Council’s position on the proposed operation.

The publication of this press release does not attest to the completeness of the file provided for in Article 9 of Decree No. 2-14-652 adopted for the implementation of Law No. 104-12 on freedom of prices and competition as amended and supplemented.

Names of the companies and groups concerned:

• The acquirer: the company “Kone Corporation”;
• The target: the company “TK Elevator Topco GmbH”.

Nature of the operation

• Exclusive takeover.

Economic sectors concerned

• Market for the sale, installation, modernization, and maintenance of elevators and escalators.

Deadline for interested third parties to submit their observations

• 10 days from the date of publication of this press release, i.e., October 5, 2026.

NON-CONFIDENTIAL SUMMARY OF THE OPERATION PROVIDED BY THE PARTIES

The Competition Council received notification of an economic concentration operation concerning the indirect exclusive takeover by the company “Kone Corporation” of the company “TK Elevator Topco GmbH”, through the acquisition of all the share capital of “Vertical Topco II SA”, and the related voting rights, which holds all the assets and subsidiaries of “TK Elevator Topco GmbH”.

“Kone Corporation” is a Finnish public limited company, headquartered at Keilasatama 3, 02150 Espoo, Finland. It specializes in the manufacture, installation, and maintenance of elevators, escalators, and automatic building doors. Listed on the Nasdaq Helsinki, its activities revolve around three main areas:

• Solutions for new buildings: Design, manufacture, and installation of elevators, escalators, and automatic doors for new constructions.
• Modernization: Complete or partial replacement of components in aging installations, regardless of the brand.
• Services: Maintenance and repair to ensure the safety and availability of elevators, escalators, and automatic doors in currently operating buildings.

“TK Elevator Topco GmbH” is a German limited liability company, headquartered at E-Plus-Strasse 1, 40472 Düsseldorf, Germany. It is active in the design, installation, and maintenance of elevators, escalators, boarding bridges in airports and ports, stairlifts, and lifting platforms, advanced visual docking guidance systems, and ground support equipment for airports. Its main activities are organized around three main lines of business:

• New installations: Design, manufacture, and installation of elevators and escalators.
• Modernization: Providing solutions for aging elevators and escalators, ranging from upgrading certain components to complete equipment replacement.
• Services: Providing maintenance and repair services to ensure the safe and reliable operation of elevators, escalators, and other equipment.

 

Done in Rabat, on September 24, 2026