October 8, 2019 / 2:50 PM / 12 days ago

Thyssenkrupp to open data room in elevator auction soon - sources

TOKYO/FRANKFURT, Oct 8 (Reuters) - Thyssenkrupp plans to give potential bidders access to the data room of its elevator division in the coming days, three people familiar with the matter said, as one of Europe’s biggest M&A deals of the year is picking up pace.

Japan’s Hitachi is working with investment bank Barclays to explore a bid for the unit, which is valued anywhere between 12 billion to 17 billion euros ($13.2-$18.7 billion), the people said.

Apart from Hitachi, access will be granted to Finland’s Kone , Blackstone, CVC and Carlyle as well as a consortium consisting of Advent, Cinven and the Abu Dhabi Investment Authority, they added.

All parties declined to comment or were not immediately available for comment.

Reporting by Junko Fujita, Arno Schuetze and Christoph Steitz; Editing by Tassilo Hummel

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