Finland’s Kone loses bid to buy Thyssenkrupp’s elevator unit

GERMANY – Thyssenkrupp has announced that it has shortlisted two private equity consortia in the sale of its 16 billion-euro ($17 billion) elevator unit, dealing a blow to Finland’s Kone, which withdrew from the closely watched deal. The transaction which is potentially Europe’s biggest private-equity deal in 13 years, is now in its last stages and could come to a head when Thyssenkrupp’s supervisory board is scheduled to meet, according to a Reuters report. The cash-strapped conglomerate said it would focus on negotiations with two private equity consortia: one consisting…

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