RAG to pay less than $1.1 billion in Thyssenkrupp elevator bid: sources

Industry: Other    2020-01-17

The RAG Stiftung will likely pay less than 1 billion euros ($1.1 billion) as part of a consortium it has joined to bid for the elevator division of Thyssenkrupp, two people familiar with the matter said.

This will give RAG, a foundation tasked with bearing the costs for the country’s exit from hard coal mining, a minor role in the consortium led by private equity firms Advent and Cinven, the people said.

A RAG spokeswoman declined to comment.

Source: Reuters.com