Deals
Thyssenkrupp Weighs Elevator Stake Sale as Buyers Circle
- Kone, PE firms CVC and KKR have expressed interest in business
- Elevator division will also continue share sale preparations
This article is for subscribers only.
Thyssenkrupp AG has received interest from competitors and buyout firms for a stake in its 15 billion-euro ($16.8 billion) elevator unit, prompting the German industrial firm to explore a sale alongside its planned listing, people familiar with the matter said.
Private equity firms including CVC Capital Partners and KKR & Co., as well as rival elevator maker Kone Oyj, have expressed interest in part or all of the Thyssenkrupp division, the people said. As a result, the company is planning to start formal sale talks in the autumn, they said, asking not to be identified because the deliberations are private.