BREAKING NEWS

BREAKING NEWS

Thyssenkrupp Materials to quickly exit Industrials after split

Thyssenkrupp Materials to quickly exit Industrials after split
FILE PHOTO: A logo of ThyssenKrupp AG is pictured outside the ThyssenKrupp headquarters in Essen, November 23, 2017. REUTERS/Thilo Schmuelgen/File Photo -
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Thilo Schmuelgen(Reuters)
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FRANKFURT (Reuters) - Thyssenkrupp <TKAG.DE> will quickly sell a minority stake it will hold in the capital goods business it plans to spin off, the conglomerate's chief executive told analysts on Monday.

"The sooner the better," Guido Kerkhoff said.

After the planned corporate split, first unveiled last week, Thyssenkrupp will spin off its elevators, car parts and plant engineering units into Thyssenkrupp Industrials and initially hold a minority stake in the new entity.

(Reporting by Christoph Steitz; Editing by Michelle Martin)

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