Deals
Battle for Thyssenkrupp Elevators Unit Heats Up
- Finnish elevator maker Kone in talks to team with CVC Capital
- Blackstone has partnered with Carlyle for potential offer
This article is for subscribers only.
The battle for Thyssenkrupp AG’s elevator unit is heating up as rival bidders Kone Oyj and Blackstone Group Inc. position themselves with potential partners for a deal that could fetch more than 15 billion euros ($16.5 billion), people familiar with the matter said.
Kone, the Finnish elevator maker, is in talks with CVC Capital Partners about teaming up in an offer for the business, according to the people. Blackstone and Carlyle Group LP have partnered for their own planned joint bid, the people said, asking not to be identified because the information is private.