UPDATE 1-Thyssen says will divest assets to cut debt


(Adds detail from statement) FRANKFURT, May 19 (Reuters) - German steel and engineering group ThyssenKrupp AG said on Monday it would dispose of businesses with combined sales of seven billion euros ($8 billion) in a bid further to cut its high debt levels. Thyssen also said it had bought 16.9 million of its own shares for around 406 million euros from IFIC Holding AG, owned by Iran. The move, which would have no effect on pre-tax profit, reduces Iran's stake in Thyssen to below five ...

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