trending Market Intelligence /marketintelligence/en/news-insights/trending/w6v_Uc6n_r8MiTJOCn3W7w2 content esgSubNav
In This List

Report: Germany's RAG joins consortium bid for thyssenkrupp elevator unit

Blog

Insight Weekly: M&A outlook; US community bank margins; green hydrogen players' EU expansion

Blog

Insight Weekly: US bank M&A; low refinancing eases rates impact; Texas crypto mining booms

Blog

Insight Weekly: US stocks hit grim milestone; top European banks tumble; TMT IPOs plunge

Video

Gold and Copper Summit 2022: Overview of Global Gold Markets in 2022 and Beyond


Report: Germany's RAG joins consortium bid for thyssenkrupp elevator unit

RAG-Stiftung joined a consortium led by private equity firms Advent International Corp. and Cinven in a bid for thyssenkrupp AG's €15 billion elevator business, Reuters reported Jan. 15, citing two unidentified sources.

The newswire noted that RAG, a public-sector foundation and the controlling shareholder of German chemicals group Evonik Industries AG, was not available for comment.

According to the report, the involvement of RAG may help the consortium improve its chances with labor representatives who control half of thyssenkrupp's supervisory board.

RAG recently sold a 5.2% stake in Evonik worth €632.5 million.