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Thyssenkrupp's elevator business gets at least 3 bidders: sources

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Thyssenkrupp has received bids from at least three major bidding groups for a majority stake in Thyssenkrupp's elevator business, four people ...

FRANKFURT/DUESSELDORF: Thyssenkrupp has received bids from at least three major bidding groups for a majority stake in Thyssenkrupp's elevator business, four people familiar with the matter said.

The bidders are also prepared to take a minority stake if it helps to win over key Thyssenkrupp stakeholders. Activist fund Cevian, which is Thyssenkrupp's second biggest shareholder, favors an outright sale, while labor representatives oppose this. Private equity firms Blackstone , Carlyle and the Canada Pension Plan Investment Board have also submitted a joint bid, these people said.A third bid came from Advent, Cinven and the Abu Dhabi Investment Authority, the sources said.

 

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