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S8 Capital acquires Russian assets of Finnish elevator producer Kone

Elevators will be serviced under the Meteor Lift brand in the future

MOSCOW, October 24. /TASS/. S8 Capital Holding has acquired Russian assets of the Finnish producer of elevators Kone, the press service of the holding reported.

"S8 Capital diversified Holding has completed the transaction on purchase of Russian assets of the Finnish company Kone, LiftConnect. The transaction includes the acquisition of the company’s service portfolio, which consists of more than 7,000 equipment units, including high-speed elevators in six Russian regions," the report said.

Elevators will be serviced under the Meteor Lift brand in the future.

Kone has confirmed the information about the sale in a statement released on its website. "Kone Corporation, a global leader in the elevator and escalator industry, has completed the sale of its Russia operations to Russia-based S8 Capital diversified Holding," the company said.

The sale of the business follows Kone's March 2022 announcements to cease deliveries and not sign new orders due to Russia's special military operation in Ukraine. In June of the same year, Kone announced plans to divest its business and operations. At the time of closing the deal, Kone employed around 300 people in Russia.

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