By Jenny Busche
FRANKFURT--ThyssenKrupp AG (TKA.XE) has received bids from
several private equity funds for its stainless steel unit VDM
Metals that are below book value, people familiar with the matter
said Wednesday.
ThyssenKrupp's balance sheet values the unit at 500 million
euros ($635 million) and the group had aimed for a price at this
level, according to the people. These people said all bids they
know of are below this amount.
The deadline for bids ended late Wednesday, and Lindsay Goldberg
and KPS Capital Partners L.P. are among the bidders, said the
people. Triton Advisers and Advent International had also expressed
interest, they added.
A ThyssenKrupp spokesman declined to comment.
Chief Executive Heinrich Hiesinger said last month that he
wanted to sell VDM, as well as stainless steel plant AST in Terni,
Italy.
Write to Jenny Busche at jenny.busche@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires