France expects better offers for Alstom

Noam Stiekema

The French Government announced today that it expects a better offers for Alstom from the US conglomerate General Electric and Siemens Energy division. The deadline for receipt of tenders is 23rd June 2014. Shortly before noon the heads of Siemens and Mitsubishi Heavy Industries (MHI) were adopted by President Francois Hollande at their request. Both […]

Alstom

AlstomThe French Government announced today that it expects a better offers for Alstom from the US conglomerate General Electric and Siemens Energy division. The deadline for receipt of tenders is 23rd June 2014. Shortly before noon the heads of Siemens and Mitsubishi Heavy Industries (MHI) were adopted by President Francois Hollande at their request. Both companies rated today 14.2 billion EUR total energy unit of Alstom, which the German automaker and Japan’s headed for offer. General Electric offered to energy unit of Alstom a price of 12.4 billion EUR.

The CEO of Mitsubishi Shunichi Miyanaga noted that there has been one “particularly interesting proposal”. Siemens offers to buy for 3.9 billion euros in cash production of gas turbines Alstom, MHI will acquire a majority stake in the various activities of the French company in the energy sector.

The company plans to make three joint ventures for steam turbines for the “smart grid” for hydraulic turbines and will buy 10% of the 29% share of Alstom, which is held by the shareholder Bouygues.

Mitsubishi has promised the creation of 1,000 jobs in France and Siemens safeguard employment in the sector of gas turbines in France and Germany over a period of three years, unless it intends to provide over 1,000 places for trainees in the French production.

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