Let's discuss the concrete tower in the sky (Thyssenkrupp elevator)

I am off South Cobb and havent been driving around lately so hadn't seen it in the last few weeks. Still worried about the long term prospects but hopefully the project is fully funded to completion before the economic downturn. Loved the concept of them building it but worried its going to stall now.

The elevator division earned a 11.4% profit in 2019 but TK unloaded it anyway. Advent acquired the division for $19 billion which is the largest private equity acquisition in European history.

The division was very profitable and is expected to thrive even more now that it is disconnected from a parent company that carried a heavy debt burden. TK has many divisions (submarine, steel, etc) and will need the proceeds to clean up finances in their other groups.

This is a specialized elevator test tower with a 2 story event venue on the top two floors. It’s not like it can be repurposed at this stage. I would imagine that Advent didn’t acquire the very profitable division for $19b just to close it down. This project will be finished.