trending Market Intelligence /marketintelligence/en/news-insights/trending/43u4d9WGA4AJKpwva8btaw2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Report: thyssenkrupp board favors elevators unit sale over IPO

Mining Exploration Insights - April 2020

Mining Exploration Insights December

Mining Exploration Insights: Dip in gold drilling weighs on results

State of the Market: Mining Q2-2019


Report: thyssenkrupp board favors elevators unit sale over IPO

A majority of thyssenkrupp AG's management board is inclined to sell the company's elevators business as a planned IPO would not generate enough funds for the struggling German conglomerate, Reuters reported Dec. 18, citing two people familiar with the matter.

The report noted that the company's weakening balance sheet included €12.4 billion in debt and pension liabilities as of September-end, compared to €10.2 billion a year ago. Thyssenkrupp may reportedly receive bids as high as €17 billion for the unit.

The latest Reuters report comes after thyssenkrupp recently outlined plans to boost the margins at its elevators unit. "That wasn't an IPO pitch, it was a sales pitch," one of the sources said.

The newswire added that the board's shift in approach also raises the possibility for the sale of a majority stake in the business as the company needs cash to revives its other units, including steel and car parts, according to the sources.

Binding bids for the elevators unit are due Jan. 13, 2020, and the supervisory board will hold a meeting shortly after to trim the list of bidders, Reuters added.