Alstom completes sale of interests in three Energy Joint Ventures to GE
Alstom has announced that it has completed the transfer of all its interests in the three Energy Joint Ventures (Renewables, Grid and Nuclear Joint Ventures) to General Electric. The ventures were set up in November 2015.
Alstom has received a total cash payment of EUR2.594 billion (US$3.393 billion), which it intends to primarily use the proceeds to support its strategic development.
In addition, a portion will be used to pay out an extraordinary distribution of up to EUR4 (US$5.23) per share, subject to certain adjustments, to Alstom’s existing shareholders at the close of the business day preceding the date of closing of the company's merger with Siemens mobility business, expected in the first half of 2019. The payment of the extraordinary distribution will be made on the eighth business day following the closing date of the Siemens transaction.
Country updates
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September 28, 2018
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