Kone open to co-shareholding with Thyssenkrupp in elevator deal - Bloomberg
Reuters
Published Sep 13, 2019 13:44
Kone open to co-shareholding with Thyssenkrupp in elevator deal - Bloomberg
FRANKFURT (Reuters) - Finland's Kone (HE:KNEBV) is open to a co-shareholding structure in a potential deal to merge with Thyssenkrupp's (DE:TKAG) elevator division, its chief executive told Bloomberg News.
"Clearly, we would welcome Thyssenkrupp as an owner in this new entity and that way share the long-term benefits with us," Henrik Ehrnrooth told the agency in an interview.
Kone could bid for Thyssenkrupp's elevator division - which the ailing conglomerate has put up for sale - through a mix of cash and shares, which might give Thyssenkrupp a minority stake in the merged entity, people close to the deal have said.
Kone is the world's third-largest maker of elevators behind U.S.-based Otis (N:UTX) and Switzerland's Schindler (S:SCHP). Thyssenkrupp Elevator Technology, which some analysts say could be worth as much as 17 billion euros (£15.15 billion), ranks fourth.
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Written By: Reuters
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