French manufacturing firm Alstom said it has signed an agreement with General Electric (GE) to exit three energy joint ventures in return for a €2.6 billion (£2.3bn) payment.

That includes the renewables, grid and nuclear joint ventures which were set up in November 2015 as part of the sale of the Alstom Energy business to GE.

Alstom had previously retained options to exit the joint ventures as part of the deal.

They are expected to be transferred to GE’s full ownership on 2^nd October this year.