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GE Announces Completion of Acquisition of Alstom Power and Grid Business

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GE Announces Completion of Acquisition of Alstom Power and Grid Business

  • Categories:Industry News
  • Author:
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  • Time of issue:2017-11-13
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(Summary description)On November 2, GE announced the completion of the acquisition of Alstom's power and grid business. GE completed regulatory transactions by regulatory approval in more than 20 countries and territories including Europe, the United States, China, India, Japan and Brazil. This is GE's largest acquisition in the industry to date.

GE Announces Completion of Acquisition of Alstom Power and Grid Business

(Summary description)On November 2, GE announced the completion of the acquisition of Alstom's power and grid business. GE completed regulatory transactions by regulatory approval in more than 20 countries and territories including Europe, the United States, China, India, Japan and Brazil. This is GE's largest acquisition in the industry to date.

  • Categories:Industry News
  • Author:
  • Origin:
  • Time of issue:2017-11-13 08:17
  • Views:
Information

On November 2, GE announced the completion of the acquisition of Alstom's power and grid business. GE completed regulatory transactions by regulatory approval in more than 20 countries and territories including Europe, the United States, China, India, Japan and Brazil. This is GE's largest acquisition in the industry to date.

In 2014, GE and Alstom reached an agreement to acquire Alstom's power generation and grid business for 12.35 billion euros. After that, the M&A program made a series of adjustments, including several joint ventures announced in June 2014 (renewable energy, power grids and nuclear power), changes in transaction structure, price adjustments to compensation schemes and cash at the time of delivery. situation. Taking into account the impact of the exchange rate, the purchase price of the acquisition was 9.7 billion euros (about 10.6 billion US dollars). This amount includes approximately 600 million euros of working capital used in October.

According to reports, GE expects the transaction will bring the company a profit of 0.05-0.08 US dollars per share in 2016, and by 2018, earnings per share can reach 0.15-0.20 US dollars. GE's goal is to achieve $3 billion in cost synergies and strong transaction returns in the fifth year. The overall economic and strategic significance of this transaction is consistent with GE's decision to make a merger in April 2014.

GE Global Chairman and CEO Jeff Immelt said: "The acquisition of Alstom's power and grid business is another important milestone in GE's transformation. Alstom's technology, globalization, installed capacity The complementary strengths of our talents will further support the growth of our core industrial business. We are ready to provide the most complete energy technology solutions for our global customers."

On the same day, GE also announced that it would complete the sale of the railway signal business to Alstom for about $800 million.

GE said that the company will continue to be more streamlined and more focused on the company's development strategy. In addition to the acquisition of Alstom's power and grid business, GE's split for Synchony Financial has been launched; GE Financial's restructuring plan has also been completed ahead of schedule, with the sale of $126 billion in assets; the recently established GE Digital Division will be integrated The company's digital capabilities provide customers with the highest quality industrial and software solutions. (Source: China Economic Net)

Keywords:Wisdom energyEnergy technology
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