September 27, 2018 / 2:36 PM / in a month

Thyssenkrupp to spin-off capital goods business

FRANKFURT (Reuters) - German conglomerate Thyssenkrupp (TKAG.DE) on Thursday said it would spin off its elevators, auto parts and plant engineering divisions into a separately listed company, giving in to years of pressure from shareholders to simplify its structure.

The group’s supervisory board will decide on the matter at an extraordinary meeting on Sunday, Sept. 30, the group said.

Sources told Reuters earlier that Thyssenkrupp was considering a separation of major business divisions and that a decision could be made as soon as this week.

Reporting by Christoph Steitz; editing by Thomas Seythal

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