TK Elevator Said to Pick Banks for Top Roles on German IPO

TK Elevator’s private equity owners have selected banks for top roles on an initial public offering in Frankfurt of the company, which could be one of the largest in Europe in years, people familiar with the matter said.

Goldman Sachs Group Inc., Deutsche Bank AG, Morgan Stanley, Barclays Plc and UBS Group AG are the global coordinators on the IPO, the people said, asking not to be identified as the information is private. TK Elevator could be valued at about €25 billion ($29 billion) in the first-time share sale, the people said.