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BREAKING NEWS

Thyssenkrupp starts structured bidding process for elevator unit

Thyssenkrupp starts structured bidding process for elevator unit
FILE PHOTO: Thyssenkrupp's logo is seen close to the elevator test tower in Rottweil, Germany, September 25, 2017. REUTERS/Michaela Rehle -
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Michaela Rehle(Reuters)
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BERLIN (Reuters) – Thyssenkrupp <TKAG.DE> has started a structured process to look for potential buyers of its elevators unit, it said on Wednesday, confirming a Reuters report from last week.

“We have clearly stated that, in addition to preparing for the IPO, we are also examining expressions of interest from potentially interested parties,” a spokesman for the group said in e-mailed comments.

Sources had told Reuters last week that Thyssenkrupp had launched a formal auction process in addition to plans for an initial public offering.

German business paper Handelsblatt had earlier reported that Thyssenkrupp would not list its elevators division, as previously announced, but sell it.

(Reporting by Christoph Steitz and Tassilo Hummel)

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