FRANKFURT/DUESSELDORF (Reuters) – Thyssenkrupp (TKAG.DE) will receive first bids for its elevator division this week, three people familiar with the matter said, as key stakeholders differ over whether the conglomerate should sell a majority stake in its most profitable asset.
Finland’s Kone (KNEBV.HE) will submit an indicative bid for Elevator Technology (ET) by Friday, teaming up with private equity firm CVC, which is poised to buy assets that may have to be divested for antitrust reasons, the people said.
Thyssenkrupp confirmed it was proceeding with preparations for a partial listing of Elevators while also reviewing bids from potentially interested parties. Kone and CVC both declined to comment.
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