Toshiba’s US$4bil elevator unit attracts interest from Midea, Otis

Kone Oyj, which owns 19.9% of Toshiba’s elevator unit, is interested in acquiring the rest of the operation, the sources said.TK Elevator GmbH, the German company owned by buyout firms Advent International and Cinven, would also be a suitor if Toshiba goes ahead with a sale.

TOKYO: A potential sale of Toshiba Corp’s elevator business has attracted preliminary interest from industry players including Chinese conglomerate Midea Group Co and US giant Otis Worldwide Corp, according to sources.

Kone Oyj, which owns 19.9% of Toshiba’s elevator unit, is interested in acquiring the rest of the operation, the sources said.