Alstom Completes Transfer of Interests in Three Energy Joint Ventures
Oct. 3, 2018
Alstom has completed the transfer of all its interests in the three Energy Joint Ventures (Renewables, Grid and Nuclear Joint Ventures) to General Electric and received a total cash payment of €2.594 billion.
Alstom has completed the transfer of all its interests in the three Energy Joint Ventures (Renewables, Grid and Nuclear Joint Ventures) to General Electric.
As announced on May 10, 2018, Alstom has completed the transfer of all its interests in the three Energy Joint Ventures (Renewables, Grid and Nuclear Joint Ventures) to General Electric and received a total cash payment of €2.594 billion ($2.99 billion).
The proceeds will be used by Alstom primarily to support the Company’s strategic development. In addition, a part of this amount will be used to pay out an extraordinary distribution of up to €4 ($4.61) per share, subject to certain adjustments, to Alstom’s existing shareholders at the close of the business day preceding the date of closing of the transaction with Siemens, expected in the first half of 2019, once all regulatory approvals have been obtained. Payment of such extraordinary distribution shall be made on the 8th business day following the date of closing of this transaction. Details about this distribution can be found in the Document E (n° E.18-049) registered by the French Autorité des marchés financiers on June 6, 2018.
