French government approved deal of Alstom and GE

Noam Stiekema

The French government gave the green light to the acquisition of a large part of the energy business of Alstom by industrial conglomerate General Electric (GE) to 12.4 billion EUR. When the transaction is completed with GE, France will share up to 20% of Alstom Bouygues, says Economy Minister on Wednesday. Paris will protect their […]

Alstom acquisition

Alstom acquisitionThe French government gave the green light to the acquisition of a large part of the energy business of Alstom by industrial conglomerate General Electric (GE) to 12.4 billion EUR. When the transaction is completed with GE, France will share up to 20% of Alstom Bouygues, says Economy Minister on Wednesday. Paris will protect their interests in the company. Earlier, it became clear that France has sold a share of 3.1% in energy company GDF Suez, as the money will fund the acquisition of state participation in the energy group Alstom. Paris sold 75 million shares and an option to sell up to 86 million shares, or 3.6% of the total share capital of GDF Suez. The French government is the main shareholder in GDZ Suez, as a share of 36.71% at the end of 2013. The Alstom’s shareholders will vote on the transaction with GE’s scheduled for the 19th General Assembly in December, said the French company, which bid and German conglomerate Siemens.

In the first half of 2014 Alstom reported record orders for 6.4 billion EUR and growth in revenue of 13%. For the fiscal year, the French industrial conglomerate expects growth in the high single-digit range.

GE won the race for the French energy group in the summer competition of Siemens. In summer, the Board of Directors of Alstom bid approved GE’s acquisition of the company. The Agreement provides for the US group to sell the French railway business for 825 million USD, and to form joint ventures with 50:50 to business electrical network operations wind energy business and nuclear turbines. Subsequently, the French government managed to compel GE to preserve the jobs of Alstom in France.

Read this next

Digital Assets

US court greenlights IRS to track down crypto investors

A federal court has authorized the US Internal Revenue Service (IRS) to issue a so-called John Doe summons for taxpayers who may have failed to report and pay taxes on cryptocurrency transactions. 

Executive Moves

GCEX hires American Express’ veteran Marilu Revelli as marketing director

GCEX, a digital asset and FX technology platform for institutional and professional clients, has appointed Marilu Revelli to the role of Marketing Director.

Crypto Insider

Gate.io lists DeFiChain’s DFI token amid growing popularity

Bitcoin-based DeFi platform DeFiChain announced the listing of its native DFI token on Gate.io, one of the world’s leading cryptocurrency exchanges.

Digital Assets

Binance in discussions with Japan regulators to relaunch operations

Binance, the world’s largest crypto exchange by traded volume, is reportedly seeking a license to operate in Japan after its exit from the country four years ago.

Digital Assets

OKX Chain integrates .crypto domains to simplify wallet transactions

Unstoppable Domains, a company building Blockchain domain names, has entered a partnership with EVM and IBC compatible chain OKC (OKX Chain). This collaboration will grant OKC’s users the ability to simplify deposits and withdrawals within the regulated fiat-focused crypto-asset exchange.

Retail FX, Technology

MetaTrader’s iOS issue opens brokers’ eyes to other trading platforms

In a surprising (or-not-so-surprising) move, Apple has removed MetaTrader 4 and MetaTrader 5 from its App Store in a huge blow for the leading FX trading platform provider.

Retail FX

Pepperstone adds Capitalise.ai analytics and automated trading tools free of charge

“We look forward to bringing significant value to Pepperstone traders and making a real, positive impact in their daily trading habits. We are excited to welcome them on board.”

Retail FX

FP Markets wins Best Global Value Broker for 4th consecutive year at the 2022 Global Forex Awards

“We greatly appreciate the continued international recognition as at FP Markets we pride ourselves on these attributes and these prestigious awards are testament to the hard work from our global team to always provide our clients with the ultimate trading experience.”

Inside View

How to Engage Your Customer at Every Stage of Their Journey

As many as 89% of successful businesses say that providing assistive customer experiences is critical to their growth. That’s because a mere 5% increase in customer retention can boost profits by 25% to 95%.

<