Wednesday, November 5, 2014

GE says Alstom power deal on pace for mid-2015 closing

The logo of US conglomerate General Electric is pictured at the company's site in Belfort By Lewis Krauskopf (Reuters) - General Electric Co's $16.9 billion purchase of the power assets of France's Alstom 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 U.S. conglomerate's biggest-ever acquisition had encountered fierce resistance from the French state earlier this year, but Alstom said on Wednesday that the deal won official clearance from the country's government, as well as support from European works councils. ...








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