Lead briefing
Major Transfer of German Industrial Assets: The Industrial Logic Behind the €29.4 Billion Acquisition
In the second quarter of 2026, the German private market recorded its highest exit volume in five years, with TK Elevator being acquired by Kone for €29.4 billion, Volkswagen selling Everllence, and Flender being acquired by Triton. These transactions reflect that German industrial assets are becoming targets for international capital restructuring, the trend of decentralization among industrial groups is accelerating, and the restructuring of supply chains in the automotive and mechanical engineering sectors is deepening.
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