Company News Mar 17, 2020 2:00 PM
Elevator transaction on the home stretch
thyssenkrupp is making good progress in the preparations for an Elevator transaction. The remaining bidders have submitted more concrete offers. The bids are at a high level and underline the attractiveness of the business. After careful evaluation of an extensive catalogue of criteria, the company has decided to prioritize further negotiations with two consortia of financial investors (Blackstone, Carlyle and Canadian Pension Plan Investment Board on the one hand and Advent and Cinven on the other). The objective is to reach an agreement quickly on a majority or full sale.
thyssenkrupp will therefore prioritize the negotiations with the two aforementioned bidding consortia at this decisive stage and aim for value maximization. If no agreement can be reached with a bidder, an IPO remains an option. This would then be possible from early summer.
Company blog: https://engineered.thyssenkrupp.com