PE giants ready to ride Thyssenkrupp's elevators

CVC Capital Partners and KKR have expressed interest in buying Thyssenkrupp's elevator business, which could be valued at around €15 billion (about $17 billion), according to Bloomberg. The German conglomerate formally acknowledged Thursday that it's looking to restructure its operations and potentially divest a number of businesses in the wake of continued financial struggles. Thyssenkrupp plans to take its elevator business public with an IPO by year's end, but in a statement, CEO Guido Kerkhoff acknowledged the company is also weighing offers.

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