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GE plans to acquire Alstom's Energy activities for 12.35 billion Euro

French-based company Alstom announced in late April that it has received a binding offer from US-based giant General Electric (GE) to acquire its Energy activities, according to a press release issued to The Diplomat – Bucharest

2014-06-07 22:21:42 - From the Print Edition

The proposed price is a fixed price representing an Equity Value of 12.35 billion Euro and an Enterprise Value of 11.4 billion Euro. The scope of the transaction includes the Thermal Power, Renewable Power and Grid Sectors, as well as corporate and shared services. With 65,000 employees, these businesses registered 14.8 billion Euro in sales in fiscal year 2012/13.
"The combination of the very complementary Energy businesses of Alstom and GE would create a more competitive entity to better service customer needs," said Patrick Kron, Chairman and CEO of Alstom. "Alstom's employees would join a well-known major global player, with the means to invest in people and technology to support worldwide energy customers over the long term. The proposed transaction would allow Alstom to develop its Transport business as a standalone company, with a strong balance sheet to capitalise on opportunities in the dynamic rail transport market." Alstom is one of the main important players in the world of power generation, power transmission and rail infrastructure. Present in more than 100 countries, the company owns four companies in Romania, namely Infrastructure, General Turbo, Transport and Grid, with 1,000 employees.



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