The local management of Russian business Of KONE Oyj agreed to acquire Russian business from KONE Oyj (HLSE : KNEBV) on June 28, 2022. Following the closing of the deal, the Russian business will operate independently under a different brand. The transaction is subject to approval by the relevant regulatory authorities in Russia and is expected to close during the fourth quarter of 2022.

HEIDI PAALANEN-KOEV, VESA RASINAHO of CastrTn & Snellman acted as legal advisor to KONE.