February 12, 2020 / 10:51 AM / 6 months ago

Blackstone, Carlyle make $17.5 billion bid for Thyssenkrupp elevator: sources

FILE PHOTO: Thyssenkrupp's logo is seen outside the elevator test tower in Rottweil, Germany, January 21, 2020. REUTERS/Michaela Rehle

FRANKFURT/DUESSELDORF, Germany (Reuters) - A consortium consisting of Blackstone (BX.N), Carlyle (CG.O) and the Canada Pension Plan Investment Board has made a roughly 16 billion euro ($17.5 billion) bid for Thyssenkrupp’s (TKAG.DE) elevator unit, two people familiar with the matter said.

The bid is the highest among private equity suitors, who had until Tuesday to submit binding bids, the people said, adding no decision has been made on who has advanced to the final round of the auction.

Representatives for the consortium declined to comment.

(The story adds dropped word “bln” in headline)

Reporting by Christoph Steitz, Arno Schuetze, Tom Kaeckenhoff and Edward Taylor; editing by Thomas Seythal

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