FRANKFURT--ThyssenKrupp AG (TKA.XE) of Germany is close to
selling its stainless steel subsidiary VDM to private equity firm
Lindsay Goldberg Vogel for around 500 million euros ($530 million),
a person familiar with the matter said Wednesday.
The talks are far advanced and the parties could soon come to an
agreement, said the person.
A ThyssenKrupp spokesman declined to comment.
The deal could still fall apart however. According to newspaper
Handelsblatt, which reported earlier on the likely sale, the
industrial group needs to get the approval of VDM's employees
before a sale can go through.
ThyssenKrupp had sold the stainless unit to Outokumpu Oyj in
2012 but had to take most of the business back about a year later
when the Finnish steel group was in financial trouble.
Write to Jenny Busche at jenny.busche@wsj.com
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