Hiab said Thursday it has received the final regulatory approval from China's market regulator, clearing the way for the sale of its MacGregor business to funds managed by Triton.
The Finnish load-handling solutions provider now expects to close the transaction on July 31, according to a company statement.
The announcement moves the timeline forward, after Hiab said earlier in July that the deal's closing would be delayed until October pending the decision from the Chinese State Administration for Market Regulation.
Hiab, formerly known as Cargotec, first announced the agreement to sell the maritime cargo and load-handling business in November 2024 for an enterprise value of 480 million euros.
The divestment is the final major step in the company's strategic shift to focus on its core on-road load-handling solutions.
According to the company, all other necessary regulatory approvals, including from the European Union, had already been secured.
Hiab has been reporting MacGregor as part of discontinued operations since the fourth quarter of 2024.
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