By Max Bernhard

Thyssenkrupp AG (TKA.XE) has started a process to evaluate offers from strategic and financial investors to buy its elevator unit, a company spokeswoman said Wednesday.

"We have clearly stated that, in addition to preparing for the IPO, we are also examining expressions of interest from potentially interested parties. We are doing this diligently. We have therefore initiated a structured process to evaluate offers from strategic and financial investors ensuring a decision that is sustainable and the best for Thyssenkrupp and its stakeholders," she said.

Thyssenkrupp shares traded 3.4% higher at EUR10.99 at 1209 GMT.

Thyssenkrupp's statement comes after a report by German daily Handelsblatt, which cited unnamed industry sources as saying that the German industrial heavyweight's management has written letters to potential interested parties over the past days, inviting them to submit an offer.

In May, Thyssenkrupp said it was dropping its plan to split into two companies and would instead pursue an initial public offering of the elevator unit.

Write to Max Bernhard at max.bernhard@dowjones.com

(END) Dow Jones Newswires

September 04, 2019 08:28 ET (12:28 GMT)

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