Alstom may sell off energy business

Posted by | April 30, 2014 | Latest Audit Information & News

Alstom is a French world leading energy solutions and transport company. The company is to sell off its energy business in order to strengthen its transport business.

General Electric has put in a bid for Alstoms energy business and the company is reviewing the offer. Although Alstom are also leaving the door open for a competing offer from Germany’s Siemens.

GEs offer for Alstom’s thermal power, renewable power and grid businesses is said to have totaled $16.9 billion, including enterprise value of $13.5 billion and $3.4 billion of net cash.

If Alstom do sell their energy part of the business they want to strengthen their transport part of the business for which they are also a global leader. One of the strengthening aspects is to include production of “TGV” high-speed trains.

Alstom said its board had also reviewed a declaration of interest from Siemens on an alternative deal and that the German company would have access to information needed to make a binding offer.

Siemens have said they are willing to make an offer provided it was given access to Alstom’s data room, as well as permission to interview the management during a four week period, to enable Siemens to carry out a suitable due diligence.

The leaders of both companies discussed their competing proposals on Monday but the government will place a priority on preserving jobs at one of the country’s key industrial firms.

Alstom has decided to set up a committee of independent directors to review the proposed transaction before the end of May, taking into consideration all stakeholders interests including the French state.


“ Audit International- the leading international firm for Internal Auditor Jobs”


Stay up to date with Audit International

To stay up to date with our latest jobs, news and updates on what’s happening in the audit market follow us on twitter and our LinkedIn company page.




1453 total views, 1 today

Tags: , , , , ,

One Response to “Alstom may sell off energy business”

Sorry, the comment form is closed at this time.