Exclusive: Thyssenkrupp opens data room in sale of plant-building unit
Reuters
Published Oct 09, 2020 07:20AM ET
ESSEN, Germany (Reuters) - Thyssenkrupp has begun due diligence with potential bidders for its plant division as the German conglomerate accelerates a radical overhaul to sell or turn around ailing business units in the next two years, a top executive told Reuters.
In his first interview, Volkmar Dinstuhl, who oversees divestments of non-core assets, said the company has opened the data room to buyers of its plant-building units and received expressions of interest for its stainless steel division.
Thyssenkrupp (DE:TKAG) is also open to considering offers for its automotive and remaining industrial assets, said Dinstuhl, who heads up the group's Multi-Tracks division, which houses businesses Thyssenkrupp no longer wants to own.
"Our goal is to find a solution for all our businesses within the next two years," said Dinstuhl, the first time Thyssenkrupp has outlined a timeline for restructuring.
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Written By: Reuters
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