Giant industrial conglomerate ThyssenKrupp says it has successfully completed the sale of its elevator business, marking a further important milestone in the transformation of the company.
The transaction closed after all the responsible authorities had approved the sale to a bidding consortium led by Advent International and Cinven.
ThyssenKrupp had reached an agreement with the consortium on the purchase of the elevator business earlier this year. With the closing, the company has received the contractually agreed purchase price, which was reported to be $17.2 billion. [Read more…] about ThyssenKrupp sells its elevator business for more than $17 billion