Exclusive: Thyssenkrupp opens data room in sale of plant-building unit

ESSEN, Germany (Reuters) – Thyssenkrupp has begun due diligence with potential bidders for its plant division as the German conglomerate accelerates a radical overhaul to sell or turn around ailing business units in the next two years, a top executive told Reuters.

In his first interview, Volkmar Dinstuhl, who oversees divestments of non-core assets, said the company has opened the data room to buyers of its plant-building units and received expressions of interest for its stainless steel division.

Thyssenkrupp is also open to considering offers for its automotive and remaining industrial assets, said Dinstuhl, who heads up the group’s Multi-Tracks division, which houses businesses Thyssenkrupp no longer wants to own.

“Our goal is to find a solution for all our businesses within the next two years,” said Dinstuhl, the first time Thyssenkrupp has outlined a timeline for restructuring.

(Reporting by Christoph Steitz and Tom Kaeckenhoff; Editing by Edward Taylor)