GE and Siemens-Mitsubishi to revise their offerings to Alstom

GE and Siemens-Mitsubishi have revised their offerings to Alstom: General Electric (GE) and Siemens-Mitsubishi Heavy Industries (MHI) have made Alstom more attractive by revising their offer to buy the energy division. Alstom's board of directors is expected to convene at the latest Monday to make a decision.

Although Alstom is planning to sell its own energy division, the French government and trade unions have concerns about job prospects and concerns about the sovereignty of the country.

On Thursday, GE revised its offer and proposed an 50: 50 joint venture in the energy network for its nuclear and renewable energy assets. GE also states that they have signed a Memorandum of Understanding with Alstom. According to this Memorandum of Understanding, GE will sell its signaling to Alstom and allow Alstom to enter into cooperation agreements in the US in the areas of service, technology, production and support.

He plans to buy the gas turbine part of GE Alstom. GE will also create 1000 jobs in France. Meanwhile, at the end of this week, Siemens and MHI have revised their offers. They upgraded their cash royalties to 8,1 billion euros and Alstom's energy business rating to 14,6 billion.

MHI will now buy X% 40 from Alstom's combined steam, network and hydro-electric business and increase its cash contribution by up to € 800 million instead of three separate joint ventures.

Siemens will also contribute as much as € 400 million and immediately proposed to form a joint venture with Alstom on st mobility management dahil including railway signaling.

Both proposals have advantages and disadvantages. The French government is expected to express its opinion on the election before the Monday Alstom Board of Directors meets.

Armin

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