TK Elevator Owners Pick Advisers for IPO, Bloomberg Says, Citing Sources

Dow Jones

2025/10/03

--TK Elevator's private-equity owners, Advent International and Cinven, picked Rothschild and Lilja as financial advisors on a planned initial public offering that could rank among Europe's biggest listings in years, Bloomberg reports, citing unnamed sources.

--The buyout groups are weighing listing the former Thyssenkrupp unit--which was last valued at 23 billion euros ($26.95 billion), including debt, when Saudi Arabia's sovereign wealth fund bought a stake earlier this year--on a European index like Frankfurt, although a U.S. listing is also under consideration for an IPO that could happen in 2026, Bloomberg reports.

--Representatives for Rothschild, Advent and Cinven declined to comment, and Lilja didn't immediately respond to requests for comment, according to Bloomberg.

Full story: https://tinyurl.com/bde2fez2

Write to Billy Gray at william.gray@wsj.com

(END) Dow Jones Newswires

October 03, 2025 08:09 ET (12:09 GMT)

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