GE completes €9.7bn Alstom deal

General Electric (GE) has bought Alstom’s power and grid businesses for €9.7 billion (£6.3bn). It follows the approval in more than 20 countries and regions including the EU, US, China […]

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General Electric (GE) has bought Alstom’s power and grid businesses for €9.7 billion (£6.3bn).

It follows the approval in more than 20 countries and regions including the EU, US, China and India.

The deal, which is GE’s largest ever industrial buy, was initially agreed for €12.4 billion (£9.4bn).

Jeff Immelt, Chairman and CEO, GE 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.”