Update on closing timetable for sale of MacGregor

Update on closing timetable for sale of MacGregor

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.

Hiab Corporation

For further information, please contact:

Mikko Puolakka, CFO, tel. +358 20 777 4000

Aki Vesikallio, Vice President, Investor Relations, tel. +358 40 729 1670

Hiab (Nasdaq Helsinki: HIAB) is a leading provider of smart and sustainable on road loadhandling solutions, committed to delivering the best customer experience every day with the most engaged people and partners. Globally, Hiab is represented on every continent through its extensive network of 3,000 own and partner sales and service locations, enabling delivery to over 100 countries. The company's continuing operations sales in 2024 totalled approximately EUR 1.6 billion and it employs over 4,000 people. www.hiabgroup.com