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Bidders Keen on Elevator Unit - Thyssenkrupp CEO

Steel News - Published on Mon, 19 Aug 2019

Image Source: Reuters
Reuters reported that possible bidders for Thyssenkrupp’s elevator division are under pressure to come up with firm offers. Mr Guido Kerkhoff CEO told German magazine Der Spiegel “Strategic investors and private equity will miss out at first if a listing happens. This is putting them under pressure. You won’t believe how many phone calls I’m currently getting from that corner.”

Thyssenkrupp is evaluating a deal for elevators, seen worth up to EUR 14 billion, in a dual-track process which could result in an initial public offering, a joint venture or an outright sale.

Sources familiar with the process have told Reuters that Finnish elevator maker Kone as well as private equity investors KKR, CVC and Advent has approached Thyssenkrupp about a potential deal.

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Posted By : Ratan Singh on Mon, 19 Aug 2019
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