• Most Popular
  • Most Shared

ThyssenKrupp sells Safway to US investor - report

Sun Nov 15, 2009 11:06am EST

Stocks

   

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.

Stocks  |  Mergers & Acquisitions  |  Basic Materials

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))
Stocks
Mergers & Acquisitions
Basic Materials


More from Reuters

Photo

Obama will not rush Afghan troop drawdown

OSLO (Reuters) - There will be no "precipitous drawdown" of U.S. forces in Afghanistan and U.S. troops could still be in the country for years to come, President Barack Obama said on Thursday.

» More Top News
A glass of tap water is served at a restaurant in New York June 10, 2009 REUTERS/Shannon Stapleton

G7 glass half empty

Recovering from a punishing global recession has forced the world's richest nations to pay dearly, prompting subdued growth prospects and delayed sighs of relief.   Full Article 

Global markets
Tom Metzold, Vice President of Eaton Vance Management and Senior Portfolio Manager at Eaton Vance, speaks at the Reuters Global Media Summit in New York, December 9, 2009. REUTERS/Brendan McDermid

"Everything's not hunky-dory"

Did the worst downturn in 70 years leave a permanent scar? Top money managers like Tom Metzold examine how a "new normal" will shape things to come.  Full Article 

Investment Outlook Summit