GE to Buy Wind Turbine OEM
General Electric Co said it would buy LM Wind Power, a maker of rotor blades used in wind turbines, from private equity firm Doughty Hanson for $1.65 billion, as it looks to boost output in its renewable energy business. Denmark-based LM Wind Power is the largest supplier of rotor blades to GE, and the deal will help the U.S.
Norway's Oil Fund Takes France's Alstom Off Ethics Risk List
Norway's $837 billion sovereign wealth fund, the world's largest, has removed power and transport company Alstom SA from its ethics observation list, the fund said on Tuesday. The fund said Alstom joined the list in 2011, when Norway's finance ministry decided to put the French company under observation based on an assessment of risk of gross corruption in its operations.
Alstom to Pay Record $772 mln to Settle Bribery Charges with U.S.
The French firm Alstom SA has pleaded guilty and will pay $772 million in criminal penalties to settle charges with the U.S. Justice Department alleging the company bribed government officials to win business in Indonesia, India and China. The settlement announced by the Justice Department on Monday marks the…
Ex-Alstom exec pleads guilty to bribery
A former vice president of Alstom SA's U.S. unit pleaded guilty on Thursday over his role in a scheme to bribe Indonesian government officials to win a $118 million power project there, the U.S. Department of Justice said. William Pomponi, a former vice president of sales for the French company's Connecticut-based power subsidiary…
GE Nears Deal to Sell Fuel Dispenser Unit
General Electric Co is in advanced talks to sell its energy unit that makes fuel dispensers to First Reserve Corp, according to people familiar with the matter, in the latest example of a conglomerate selling an unloved business to a buyout firm. A deal will likely value GE's unit, called Wayne, at between $500 million and $600 million…
GE In Talks To Buy Alstom's Power Arm
U.S. industrial conglomerate General Electric Co is in advanced talks to buy the global power division of struggling French engineering group Alstom SA for about $13 billion, sources familiar with the matter said on Friday. Sources said a deal was backed by Alstom's main shareholder, French conglomerate Bouygues with 29 percent…
China Buying for $24b Nuclear Projects
Westinghouse in talks to sell eight AP1000 Reactors; Nuclear plants, with machinery and services, may cost $24 billion. China may sign as early as next year the first of several contracts for eight new nuclear reactors from Westinghouse Electric Co, as the government presses ahead with the world's biggest civilian nuclear power expansion since the 2011 Fukushima disaster in Japan.
