GE: Alstom to exit three energy joint ventures
(CercleFinance.com) - This morning, Alstom announces that last night it signed an agreement with General Electric (GE) to allow the French group to exit the “Energy” joint ventures it holds with the US conglomerate.
Although it has refocused on rail operations following the sale in 2015 of almost all of its Energy business (turbines) to GE, Alstom still held minority stakes in the capital of three “energy” joint ventures associating it with GE: Renewables, Grid and Nuclear.
Alstom intends to exercise its options to sell its interests in the 'Renewables' and 'Grid' joint ventures in 2018, it says.
“The exercise of these options between September 4 and 10 would imply General Electric had exercised its option to acquire Alstom's interest in the 'Nuclear' joint venture” explains the French group.
This deal should be finalised on 2 October for an amount of close to 2.6 billion euros.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Although it has refocused on rail operations following the sale in 2015 of almost all of its Energy business (turbines) to GE, Alstom still held minority stakes in the capital of three “energy” joint ventures associating it with GE: Renewables, Grid and Nuclear.
Alstom intends to exercise its options to sell its interests in the 'Renewables' and 'Grid' joint ventures in 2018, it says.
“The exercise of these options between September 4 and 10 would imply General Electric had exercised its option to acquire Alstom's interest in the 'Nuclear' joint venture” explains the French group.
This deal should be finalised on 2 October for an amount of close to 2.6 billion euros.
Copyright (c) 2018 CercleFinance.com. All rights reserved.