Energy group Alstom to sell to US in £10billion deal
PARIS has cleared the way for French rail and energy group Alstom to sell most of its power generation business to America’s General Electric in a £10billion deal.
The French Government approved the deal after securing an option to buy a 20 per cent stake in Alstom to protect domestic interests.
General Electric fought off rival bidders Siemens and Mitsubishi Heavy Industries.
Alstom is active in the UK’s rail, power and electricity transmission sectors, operating from 30 sites and employing more than 6,500 people.