Money News

Thyssenkrupp steps up efforts to sell Industrial Solutions unit: FT

FILE PHOTO: The logo of Thyssenkrupp is seen near elevators at its headquarters in Essen, Germany, November 21, 2019. REUTERS/Leon Kuegeler/File Photo

(Reuters) - German conglomerate Thyssenkrupp AG has stepped up efforts to sell its Industrial Solutions unit, which builds plants and industrial sites, the Financial Times newspaper reported on Sunday.

China’s state-owned companies are expected to be among the parties interested in buying the unit, the newspaper reported, citing people familiar with the matter.

The FT said bankers had sounded out potential buyers over the past few weeks.

The report comes a couple of days after Der Spiegel magazine reported Thyssenkrupp was considering reviving plans for a steel merger with smaller German peer Salzgitter.

Thyssenkrupp was not immediately available for a comment on Sunday.

Reporting by Kanishka Singh in Bengaluru; Editing by Mark Potter