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Kone rumoured to bid EUR 14bn for Thyssenkrupp's elevator division
May 16, 2019

Kone, the Finnish-based elevator manufacturer and engineering company, is rumoured to place a EUR 14bn to acquire Thyssenkrupp’s elevator division, according to Reuters. Thyssenkrupp is forced to raise new cash and divestment of its most profitable division could solve this. The management of Thyssenkrupp is also looking into an IPO of the division. The division reported a turnover of EUR 7.6bn and adj. EBIT of EUR 886m, corresponding to an EV/EBIT of 15.8x.

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