Tochigi Ontario Holdings reports that buyout firms are leading the $17 billion battle for Thyssenkrupp unit
Tochigi Ontario Holdings have today reported that in the heated takeover battle for Thyssenkrupp AG's $17 billion elevator company, a deal that could rate as one of the largest transactions worldwide this year, two groups of private-equity companies are through to the next round. "Two groups of private-equity firms are through to the next round in the heated takeover battle for Thyssenkrupp AG's $17 billion elevator business, a sale which could rank as one of the biggest deals globally this year," said Jonathan Turner, Head of Corporate Trading at Tochigi Ontario Holdings. The shortlist of possible investors makes up a consortium backed by Blackstone Group Inc. Carlyle Group Inc. and Canada Pension Plan Investment Board and the second group of Advent International, Cinven and the Abu Dhabi Investment Authority. "The objective is to reach an agreement quickly on a majority or full sale," Thyssenkrupp said in a statement. Tochigi Ontario Holdings repor...