The 17.2 billion euro ($18.4 billion) sale of Thyssenkrupp’s (TKAG.DE) prized elevator unit to a consortium led by Advent and Cinven [CINV.UL] is not under threat from the coronavirus crisis, the conglomerate’s CEO said in an internal staff letter.
“To be absolutely clear: the transaction is not in doubt. The buyers do not have the right to withdraw,” Martina Merz said in the letter that was seen by Reuters.
“The financing of the transaction stands on the buyers’ side and is secured contractually by the participating equity providers and lenders.”
Source: Reuters
Can’t stop reading? Read more
Fund Friday: Top fundraising news in private equity
Fund Friday: Top fundraising news in private equity KKR has closed its North America Fund XIV at...
OVS secures $330m financing as TIP-backed retailer strengthens balance sheet
OVS secures $330m financing as TIP-backed retailer strengthens balance sheet OVS has secured a...
Ares and Antares arrange $1bn private credit deal for Pritzker-backed PLZ
Ares and Antares arrange $1bn private credit deal for Pritzker-backed PLZ Ares and Antares have...