Alstom Exercises Option To Exit Joint Ventures With General Electric

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Alstom (ALSMY) said it signed yesterday an agreement with General Electric (GE) relating to the implementation of the agreements from 2015 regarding the intended exit of Alstom from the three energy joint ventures.

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 intends to exercise its options to sell its interests in the "Renewables" and "Grid" Joint Ventures in 2018, pursuant to its put options.

If these options are exercised during the exercise period, between September 4 and September 10, 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 October 2 for a total amount of EUR 2.594B, Alstom noted.

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