The German steel and industrial group ThyssenKrupp is entering into formal negotiations with parties about the sale of an interest in its elevator and escalator division. The Bloomberg news agency reports this based on insiders.

Various parties would be interested, including Finnish elevator maker Kone and investors CVC Capital Partners and KKR. All these companies did not want to comment. The elevator division would be valued at around 15 billion euros.

ThyssenKrupp is also launching an initial public offering of the division, after the merger of the steel activities with the European steel branch of Tata Steel. The messages were received positively at the Frankfurt stock exchange as the ThyssenKrupp share rose more than 2 percent on Monday afternoon.

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