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ThyssenKrupp sells Safway to US investor - report

FRANKFURT | Sun Nov 15, 2009 11:06am EST

FRANKFURT Nov 15 (Reuters) - Germany's largest steelmaker ThyssenKrupp (TKAG.DE) has sold its U.S. scaffolding unit Safway to Odyssey Investment Partners for an undisclosed price, Handelsblatt newspaper reported citing industry sources.

A contract for the sale was signed on Saturday and the transaction could be concluded by the end of the year, the newspaper added.

ThyssenKrupp declined to comment.

In September ThyssenKrupp announced that it wanted to sell the unit and media reports at the end of October said ThyssenKrupp had found a buyer for the unit, which according to company data employs around 5,000 workers. (Reporting by Tyler Sitte; Editing by Hans Peters) (Reuters Messaging: tyler.sitte.thomsonreuters.com@reuters.net; +49 69 7565 1207))
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