GE has completed the acquisition of Alstom’s power and grid businesses, following regulatory approval of the deal in over 20 countries and regions.
GE and Alstom agreed the €12.35bn deal in 2014. However, GE said that adjusting for joint ventures announced in June 2014 – renewables, grid, and nuclear – changes in the deal structure, price adjustments for remedies, net cash at close and the effects of currency, the purchase price is €9.7bn.
GE chairman and chief executive officer Jeff Immelt said: “The completion of the Alstom power and grid acquisition is another significant step in GE’s transformation.
“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.”
