Finland-headquartered KONE is in talks to buy TK Elevator (TKE) as early as in “the coming weeks,” Reuters is among outlets to report, citing Bloomberg. Private-equity owners of Germany-headquartered TKE, Advent International and Cinven, have been preparing for an initial public offering (IPO) since at least fall 2025, with the U.S. considered as a location. Recent volatility in equity markets have made a sale more appealing than an IPO, however. As they continue to look at a potential listing, Advent and Cinven seek a valuation of as much as EUR25 billion (US$28.8 billion), including debt, in any potential deal. KONE, TKE, Advent and Cinven all declined to comment, Reuters said.
