Hiab, previously known as Cargotec, announced on November 14, 2024, that it has entered into an agreement to sell its MacGregor business to funds managed by Triton. This transaction, referred to as the “Transaction,” is awaiting regulatory approvals from relevant jurisdictions. While approvals have already been secured from several regions, including the European Union, the crucial approval from China’s State Administration for Market Regulation (SAMR) is still pending.
The preparations for MacGregor’s separation as a standalone business are on track, and the closing of the Transaction will proceed as soon as the necessary regulatory clearance is received. Consequently, the anticipated closing date has been revised to October 1, 2025, which is later than the initially scheduled date of July 1, 2025. Since the fourth quarter of 2024, MacGregor has been included in the company’s discontinued operations, and the newly adjusted timetable for closing the Transaction is not expected to significantly affect the company’s financial status.
The Company continues to remain focused on ensuring a smooth transition and fulfilling all regulatory requirements to finalize the sale.