Alstom Signs EUR 2.59 Bln Deal With GE To Exit Energy JVs

(RTTNews) - Alstom (AOMFF.PK, ALS.L) said that it signed a deal with General Electric (GE) to exit three Energy joint ventures in return for a payment of 2.594 billion euros.

The "Renewables", "Grid" and "Nuclear" Joint Ventures were set up in November 2015 as part of the sale of the Alstom Energy business to General Electric.

Alstom said it intends to exercise its options to sell its interests in the "Renewables" and "Grid" Joint Ventures in 2018 (pursuant to Alstom's put options). If these options are exercised during the exercise period (between September 4th and September 10th), GE will then be deemed to have exercised its option to acquire Alstom's interest in the "Nuclear" Joint Venture (pursuant to General Electric's call option), and the transfer of all interests will occur on 2 October 2018 for a total amount of 2.594 billion euros.