French energy 'jewel' Alstom taken over by General Electric

Monday, June 23rd 2014 - 07:29 UTC

Full article 5 comments

The board of directors of French power-to-rail group Alstom unanimously approved US conglomerate General Electric's 12.35 billion Euro bid to acquire its energy business. Read full article

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ChrisR
Having been a director in a GE Company Ltd company, the machinations of Alstom over the years proved the logic in getting rid of the British generation business to them decades ago.

I hope the yanks can get used to the French way of “working”, otherwise it will be tears before bedtime.
Jun 23rd, 2014 - 11:34 am - Link - Report abuse 0
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Spanish Mole
Siemens bought part of Rolls Royce recently , GE gets Alston now . interesting
Jun 23rd, 2014 - 11:55 am - Link - Report abuse 0
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GeoffWard2
'Economy Minister Arnaud Montebourg sought to reassure the French public on Saturday, saying the deal would cost taxpayers “zero Euros” ... the money for the purchase of Bouygues' shares in Alstom (%?) would be raised from the sale of government-owned shares in other companies such as Safran and Airbus.' !

It's good to know that the taxes of French citizens used to buy major companies are NOT lost when the government sells them. Hmmm

... So ... the French government will lose their 'Jewel in the Crown' Alstom (inc. their nuclear industry) - “too small” - but will have a minority share in the US-acquired G.M. energy company.

It also loses French government involvement in Airbus and Safran.

[EADS owns 80% of Airbus:-
Daimler-Chrysler 22.5%
**French Government 12%**
Spanish Government 5%
Lagardere publishing 12%
Hamburg (city of?) 1.5%
Publicly traded 24%
“Others” 3%
= the 80% owned by EADS
BAE SYSTEMS owns the other 20%
The German government and UK government have no ownership of Airbus.

Safran S.A. (ex-SNECMA and SAGEM) is the French multinational aircraft and rocket engine, aerospace component, and security company. ]

Hmmmm. Things must be truly dire in France.
Jun 23rd, 2014 - 11:57 am - Link - Report abuse 0
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yankeeboy
France is a mess, all the rich have or are leaving and most of the companies are doing inverted take overs and headquartering somewhere else.
Socialism at its best
Maybe they should call Maduro and ask how he's doing so well.
Jun 23rd, 2014 - 02:46 pm - Link - Report abuse 0
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Vestige
Yeah I hear its riddled with meth and corporation owned labor prisons.
Jun 23rd, 2014 - 10:00 pm - Link - Report abuse 0
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