August 16, 2019 / 4:01 PM / 4 months ago

Bidders keen on elevator unit -Thyssenkrupp CEO in Spiegel

FRANKFURT, Aug 16 (Reuters) - Possible bidders for Thyssenkrupp's elevator division are under pressure to come up with firm offers, the conglomerate's chief executive told German magazine Der Spiegel.

"Strategic investors and private equity will miss out at first if a listing happens," Guido Kerkhoff was quoted as saying. "This is putting them under pressure. You won't believe how many phone calls I'm currently getting from that corner."

Thyssenkrupp is evaluating a deal for elevators, seen worth up to 14 billion euros ($15.5 billion), in a dual-track process which could result in an initial public offering, a joint venture or an outright sale.

Sources familiar with the process have told Reuters that Finnish elevator maker Kone as well as private equity investors KKR, CVC and Advent have approached Thyssenkrupp about a potential deal. ($1 = 0.9032 euros) (Reporting by Christoph Steitz Editing by Michelle Martin)

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