Exclusive: Kone looks at 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, four people familiar with the matter said.

Thyssenkrupp last week ditched a plan to spin off its capital goods business after months of shareholder criticism, and opted instead to list elevators, its most profitable division, to raise badly needed cash.

The sources said it was not clear if Kone could fund an all-cash bid and whether or not the deal would face significant anti-trust hurdles similar to Thyssenkrupp’s failed steel joint venture with Tata Steel.

This is why Thyssenkrupp’s management prefers the option of an initial public offering, the sources added.

“What the company needs is guaranteed proceeds. The IPO is a safe option. Other options are subject…

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