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Exclusive: Thyssenkrupp-Kone merger would trigger litigation war - Schindler

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Switzerland's Schindler will embark on an all-out legal antitrust offensive if Thyssenkrupp selects Finland's Kone as the buyer of its elevator ...

FRANKFURT/DUESSELDORF, Germany: Swiss elevator maker Schindler would embark on an all-out antitrust offensive in the courts to stall any deal to combine Thyssenkrupp's lift division with rival Kone , board member Alfred Schindler told Reuters.

He said he would expect other rivals to take legal action in the event of a sale to Kone:"You can safely assume that neither Otis nor Schindler will simply accept being driven out."AdvertisementOnce a symbol of Germany's industrial power, Thyssenkrupp is struggling with 12.4 billion euros of debt and pension liabilities after years of ill-fated investments and needs to raise money from its prized elevator division.

If Kone is selected, the deal is expected to result in lengthy antitrust reviews in Europe as well as the United States which could lead to the sale of some assets to rivals to secure regulatory approval.

 

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