September 26, 2019 / 12:49 PM / 5 months ago

Thyssenkrupp proceeds with elevator sale after CEO switch - sources

FRANKFURT/DUESSELDORF, Germany, Sept 26 (Reuters) - T hyssenkrupp will weed out some potential suitors for its elevator unit within the next two weeks, two people familiar with the matter said, as the closely-watched auction gathers pace regardless of the planned ousting of CEO Guido Kerkhoff.

Bidders invited to the next round will likely include private equity groups KKR, Blackstone, CVC and Clayton Dubilier & Rice as well as strategic firms Kone and Hitachi, one of the sources said.

A consortium consisting of private equity firms Advent and Cinven and the Abu Dhabi Investment Authority, the world’s third-biggest sovereign wealth fund, is also expected to be included, the people said.

Reporting by Arno Schuetze, Christoph Steitz and Tom Kaeckenhoff; additional reporting by Edward Taylor; editing by Thomas Seythal

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