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...ThyssenKrupp declined to comment for this story....
...A restructuring process has included the sale of its prized elevator business to private equity for €17bn, as well as its car parts and stainless steel operations....
...Thyssenkrupp revived old plans to spin off its naval unit in March....
...Manufacturers, ranging from giant corporations to smaller companies in the country’s famed Mittelstand, have already been hit by rising inflation and a rapid increase in interest rates....
...One of her first moves as chief executive was to sell ThyssenKrupp’s elevator business to private equity firms in a €17bn deal....
...Thyssenkrupp has been through a painful retrenchment, which included the €17bn disposal of its elevator business. But further divestments would be desirable....
...Steelmaker Thyssenkrupp has warned of “economic turmoil” that could disrupt its manufacturing operations....
...The company, which Lex values at just under €3bn, is a joint venture between Germany’s Thyssenkrupp and De Nora of Italy....
...In January 2007, with the financial crisis looming, he sold the company, Reckson Associates Realty Corporation, to SL Green for $6.5bn....
...The organisation was established in 2014 by the family behind the Kone Corporation — makers of elevators, and one of Finland’s biggest companies....
...trading update US, April CPI data Results: Compass H1, Continental Q1, E.On Q1, ITV Q1, Manulife Financial Corporation Q1, Mediobanca Q1, Panasonic FY, Suzuki Motor Corporation FY, Takeda FY, ThyssenKrupp...
...In 2020 as the coronavirus pandemic disrupted markets, the group had been on the hook for the largest bridge loan in Europe, backing the €17bn buyout of ThyssenKrupp’s elevator division....
...Last year, it sold its highly-profitable lifts and elevators business for more than €17bn to a consortium of private equity groups, in order to pay off mounting debt and pension liabilities....
...You could have heard a €17bn elevator drop....
...We’ll freely discuss which vaccine we received in an elevator with strangers. But a conversation about money rarely happens, even in a private setting with close friends....
...The onset of the pandemic for the sector was marked by Europe’s biggest private equity deal in more than a decade: Schindler’s smaller rival Thyssenkrupp Elevator was bought from its eponymous German parent...
...Unable to escape a steady decline over the past decade, Thyssenkrupp sold its lucrative elevators business to a private equity consortium for €17bn in February, to help it pay down billions of euros in debt...
...The Howard Hughes Corporation, which he chairs, bought a parking lot in the South Street Seaport’s historical district for $180m in 2018....
...This year, the German industrial group sold its elevators division for €17bn to private equity investors and preliminary talks have been held on a tie-up with Swedish steelmaker SSAB and Indian group Tata...
...Thyssenkrupp, which also makes submarines and earlier this year sold its prized elevator business to a consortium of private equity companies, said in May that it was in talks with rival steel producers...
...Following the blockbuster €17bn sale of its elevators division this year, Thyssenkrupp is “not under immediate pressure from a liquidity perspective because they’re sitting on more than €5bn in net cash”...
...Having already sold off its profitable elevator division, a further break-up looks inevitable....
...The private equity groups behind the acquisition of Thyssenkrupp Elevators, Europe’s biggest leveraged buyout in a decade, have backed down in a stand-off with bond and loan investors, agreeing to tighten...
...The act, which is winding its way through the German parliament after being approved by Angela Merkel’s governing coalition, will mandate that 67 corporations appoint at least one woman to a leadership role...
...It has its ups and downs but the recession-resistant nature of Thyssenkrupp’s elevator business is one reason why its sale to private equity remains intact....
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