Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

ACT definition

What does ACT mean? In corporate and banking practice, ACT usually refers to the Association of Corporate Treasurers, the UK-based professional body for corporate treasury professionals, rather than a statutory “Act”. It is not defined in legislation or case law; the acronym is market terminology used in transaction documents and governance materials. The Association of Corporate Treasurers promotes professional standards in liquidity management, funding, cash and risk management, foreign exchange and derivatives. It publishes guidance and a code of ethics and awards recognised qualifications (including AMCT and FCT). In legal contexts, references to “ACT-qualified” personnel or to ACT good practice may appear in treasury policies,...

UK CMA Phase 2 Final Report: Cargotec/Konecranes: SLC across container handling equipment; prohibition remedy; merger abandoned; first post-Brexit parallel EC review (archived)

Published by a LexisNexis Competition expert

Practice notes

CASE HUB ARCHIVED -this archived case hub reflects the position at the date of the decision of 29 March 2022; it is no longer maintained. See further, timeline and commentary.

Case facts

Outline

UK review of the proposed merger between Cargotec Corporation and Konecranes Plc. The companies have overlaps across markets for Container and broader cargo handling equipment.

Latest developments

On 1 April 2022, the CMA ended its phase 2 investigation after the parties opted to Abandon the proposed transaction.

Parties

Cargotec Corporation (Cargotech): Cargotech, based in Finland, supplies equipment and services particularly for cargo handling in ports and terminals, as well as for ship and road transport, including container handling equipment and terminal automated solutions, delivered through its Kalmar business.
Konecrances Plc (Konecranes): Konecranes, also based in Finland, provides equipment and services notably for lifting and cargo handling in shipyards, ports and terminals, including container handling equipment and automation technology.

Background

On 1 October 2020, Corgotec and Konecranes stated they had entered into a combination agreement and a merger plan to bring the two companies together. The CMA commenced its phase 1 investigation on 28 May 2021. On 24...

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Web page updated on 27/05/2026

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