Advent, Cinven and the state fund Abu Dhabi Investment Authority are working together on a bid for the elevator branch of industry giant ThyssenKrupp. Financial Times reported based on own insider info.

ThyssenKrupp is currently looking for options for its most profitable division, under pressure from activist shareholders. A joint bid from Advent, Cinven and the fund may receive competition from Finnish elevator maker Kone. The Japanese Hitachi would also be interested in the part, which is valued at around 15 billion euros.