Sunday, 27 April 2014

GE in talks to buy Alstom's power arm: sources


The logo of French power and transport engineering company Alstom is pictured on the roof of the company's plant in Reichshoffen By Benjamin Mallet and Matthieu Protard PARIS (Reuters) - U.S. industrial conglomerate General Electric Co is in advanced talks to buy the global power division of struggling French engineering group Alstom SA for about $13 billion, sources familiar with the matter said on Friday. Sources said a deal was backed by Alstom's main shareholder, French conglomerate Bouygues with 29 percent, and could be announced in the coming days after an Alstom board meeting on Friday afternoon. "It would be a very big asset sale, enclosing the entire energy business." Alstom Chief Executive Patrick Kron confirmed to union representatives there were talks about an "industrial deal," but did not name GE. Alstom, Bouygues and General Electric declined to comment.








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