General Electric Co. and Alstom have won contracts from India's state owned rail company worth a combined of $5.6 billion to supply and service diesel locomotives as the country works to modernise its infrastructure. The contracts are also the biggest deal to be awarded by India to foreign firms.
General Electric Co (GE.N) said on Monday for the first time it would be willing to consider concessions in order to win European approval to acquire the power equipment unit of France's Alstom (ALSO.PA).
As China signs global deals to export its nuclear power technology, it faces a huge obstacle: it still needs to show it can build and safely operate these reactors at home.
Alstom (ALSO.PA) shareholders on Friday backed with 99.2 percent of votes the French engineering group's plan to sell most of its power equipment business to General Electric (GE.N) and refocus on its smaller rail arm.
Alstom (ALSO.PA), which is selling most of its power arm to General Electric (GE.N) to focus on train-making, could halve staff at its Belfort plant in eastern France to cope with flagging locomotive demand, Alstom's main union warned on Friday.
General Electric Co's (GE.N) $16.9 billion purchase of the power assets of France's Alstom (ALSO.PA) is on pace for closing in the middle of next year after passing several steps, the head of GE's power business said on Wednesday.
The French government gave the green light on Wednesday for General Electric's (GE.N) planned 12.4 billion euro ($15.6 billion) purchase of most of Alstom's (ALSO.PA) power business.
BrightSources stated that it has raised up to US$15 million in convertible promissory note offerings and equity funds.
According to Alstom's estimates, by 2020, the grid businesses would spend US$64.3 billion for new equipment.
Alstom issued bonds while credit risk was at a reduced level.
Alstom said that it will sell its bonds as Euro credit risk declines.
Mergers under review by the European Commission and a brief guide to the EU merger process.
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