Deals
Hillhouse Capital to Bid for Thyssenkrupp Elevator Unit
- Another surprise suitor emerges after interest from 3G Capital
- Asian PE firm made non-binding offer valued at over 15b euros
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Hillhouse Capital, the Asian private equity firm started by Yale endowment alumnus Zhang Lei, is among the bidders for Thyssenkrupp AG’s elevator unit as competition heats up for the prized asset, people familiar with the matter said.
The Hong Kong-based investment firm made a non-binding offer this month, according to the people, who asked not to be identified because the information is private. Its bid valued the business at more than 15 billion euros ($17 billion), two of the people said. Hillhouse is competing against a number of other buyout firms and strategic bidders, a list that’s expected to be whittled down to a handful in the next few weeks, they said.