Tolerance.ca
Looking inside ourselves and out at the world
Independent and neutral with regard to all political and religious orientations, Tolerance.ca® aims to promote awareness of the major democratic principles on which tolerance is based.

French government agrees to buy 20% of Alstom

The French government has agreed to buy a 20% stake of rail and energy company Alstom from industrial group Bouygues.This meets a condition set by Paris to back a General Electric deal to purchase Alstom’s energy business for 12.35 billion euros agreed on Friday. The government and Bouygeos had sought to reach a deal before the expiry of General Electric’s offer on Monday.“There’s no fixed price in the agreement because it’s a listed company so its price fluctuates on the market. Bouygues promised to sell a stake to us. We have a right to purchase it and we believe it’s in the interest of the public finances to do so. Bouygues has allowed to lend Alstom’s stock to us so that we can immediately have a role in the company. We can have 20% of the shares and be on the board of directors,” said Arnaud Montebourg, French Minister of Industrial Renewal.Under the General Electric deal, the US conglomerate will sell its railway signalling business to Alstom and set up three joint ventures covering the French companies power grid business, renewable operations and nuclear steam turbines.General Electric also pledged to create 1,000 industrial jobs in France as part of the deal.

© DailyMotion -


Comment on this article!
To post a comment, we encourage you to become a member of Tolerance.ca® or log in if you are already a member. You can still post your commentwithout registering, but you will need to fill your personal information each time.

Become a member (free)   |   Log in

Postings are subject to the terms and conditions of Tolerance.ca®. Before submitting your message , you must read the Terms and conditions of Tolerance.ca® and agree to them by checking the box below.
Your name:
Email:
Heading:
Message:
 
  I have read and agree to the Terms and conditions of Tolerance.ca®.
Follow us on ...
Facebook Twitter