Exclusive: Kone explores options for potential Thyssenkrupp elevator deal – sources

Finland’s Kone is assessing the viability of a bid for Thyssenkrupp’s 14 billion euro ($15.7 billion) elevators division even as the German conglomerate pursues plans to list it on the stock exchange, four people familiar with the matter said.

Thyssenkrupp, in a major strategic u-turn, last week ditched a plan to spin off its capital goods business after months of mounting shareholder scepticism, instead opted to list its most profitable elevator division to rake in badly needed cash.

“We’ve been saying for years that consolidation would make sense in our industry and our thinking hasn’t changed,” a spokeswoman for Kone said, declining to comment further. Read more posts business or read the original

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