GE has completed the acquisition of Alstom's power and grid businesses. The completion of the transaction follows regulatory approval of the deal in over 20 countries and regions including the EU, US, China, India, Japan and Brazil. It is GE's largest-ever industrial acquisition.
GE reached an agreement with Alstom in 2014 to purchase Alstom's power and grid businesses for €12.35B. Adjusting for the joint ventures announced in June 2014 (renewables, grid, and nuclear), changes in the deal structure, price adjustments for remedies, net cash at close, and including the effects of currency, the purchase price is €9.7B (approximately US$10.6B).
“The completion of the Alstom power and grid acquisition is another significant step in GE's transformation," said Jeff Immelt, chairman and CEO of GE. "The complementary technology, global capability, installed base, and talent of Alstom will further our core industrial growth. We are open for business and ready to deliver one of the most comprehensive technology offerings in the energy sector for our customers."
