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DGAP-Adhoc: thyssenkrupp AG: thyssenkrupp sells Elevator Technology business for ?17.2 billion to consortium of bidders led by Advent, Cinven and RAG foundation

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DGAP-Ad-hoc: thyssenkrupp AG / Key word(s): Strategic Company
Decision/Disposal
thyssenkrupp AG: thyssenkrupp sells Elevator Technology business for
&euro17.2 billion to consortium of bidders led by Advent, Cinven and RAG
foundation

27-Feb-2020 / 19:18 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation
(EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Disclosure of an inside information according to Article 17 MAR

thyssenkrupp sells Elevator Technology business for &euro17.2 billion to
consortium of bidders led by Advent, Cinven and RAG foundation

thyssenkrupp sells its Elevator Technology business entirely to a consortium
led by Advent, Cinven and RAG foundation. The respective Executive Board
decision was approved on Thursday evening by the Supervisory Board of
thyssenkrupp AG. The purchase agreement has been signed. Closing of the
transaction is expected by the end of the current fiscal year. The purchase
price (assuming closing on June 30, 2020) is &euro17.2 billion. thyssenkrupp
will reinvest part of the purchase price (&euro1.25 billion) in a stake in
the elevator business. The transaction is subject to merger control
approvals, although thyssenkrupp does not expect the competent authorities
to have any reservations.

The proceeds from the transaction will remain within the company. They are
to be used to the extent necessary to reduce debt and to lower structural
costs. Specifically, the company plans to partially fund its pension
obligations. Alongside cash, the re-investment in the elevator business will
be used for this purpose. In addition, thyssenkrupp plans to use a part of
the proceeds to reduce financial debt. As a result, annual cash outflow for
interest and pension payments are expected to be significantly lowered.
Furthermore, the proceeds shall be used to a reasonable extent to advance
the development of the remaining businesses and the portfolio. In total, the
free cash flow before M&A is to be brought into positive figures within the
next two years.

Contact:
Dr. Claus Ehrenbeck
Head of Investor Relations
T: +49-201-844-536464
Email: claus.ehrenbeck@thyssenkrupp.com

Peter Sauer
Head of External Communications
Phone: +49 (201) 844-536791
mailto: press@thyssenkrupp.com

27-Feb-2020 CET/CEST The DGAP Distribution Services include Regulatory
Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
Language: English
Company: thyssenkrupp AG
thyssenkrupp Allee 1
45143 Essen
Germany
Phone: +49 (0)201 844-0
Fax: +49 (0)201 844-536000
E-mail: press@thyssenkrupp.com
Internet: www.thyssenkrupp.com
ISIN: DE0007500001
WKN: 750000
Indices: MDAX
Listed: Regulated Market in Dusseldorf, Frankfurt (Prime Standard);
Regulated Unofficial Market in Berlin, Hamburg, Hanover,
Munich, Stuttgart, Tradegate Exchange
EQS News ID: 985729
Weitere Informationen im Internet unter
Investor Relations Further information
can be found on our website under
Investor Relations

End of Announcement DGAP News Service

985729 27-Feb-2020 CET/CEST



(END) Dow Jones Newswires

February 27, 2020 13:19 ET ( 18:19 GMT)
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