Alstom Expects to Close GE Deal by Year-end

French power and transport group Alstom said in a statement that it aimed to close the sale of its energy business to General Electric as early as possible in the fourth quarter of 2015.

 

Earlier on Tuesday, GE won European Union antitrust clearance to buy Alstom's power business after agreeing to sell some of its assets to Italian competitor Ansaldo Energia.

 

"While the energy businesses will secure a future in General Electric and in the joint ventures to be formed, this transaction will enable Alstom, focused on its transport business, to pursue an ambitious growth strategy," the company said.

 

Alstom said after the deal closes it will put a public share buy-back offer to shareholders at a shareholder meeting.