Toshiba’s $4B elevator unit draws interest from Otis, others – Bloomberg (OTCMKTS:TOSBF)
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A potential sale of Toshiba’s (OTCPK:TOSBF) elevator business has attracted preliminary interest from industry players including Otis Worldwide (NYSE:OTIS) and China’s Midea conglomerate, as well as Kone Oyj, which already owns 19.9% of the elevator unit, Bloomberg reports.
Toshiba’s elevator business reportedly could fetch as much as $4B in a sale, if the company goes ahead with a deal.
The partnership with Kone, which has collaborated with Toshiba in various areas since 1998, could give the Finnish company an edge, according to the report.
Shareholders will vote Thursday on Toshiba’s plan to split into two companies and sell non-core assets including the elevator operations.
