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Alstom and GE Complete Transfer of Ownership of Three JVs


WEBWIRE

GE announced today that, as per the May 2018 agreement with Alstom, GE and Alstom have completed the transfer of ownership of the three joint ventures (JVs) that were established at closing of the acquisition of Alstomís Power and Grid assets in November 2015.

The transfers done today give GE full ownership of the three former JVs. As a result of the transfers, GE paid to Alstom today an aggregate amount Ä2.594 billion (~$3.0 billion). These transfers will not have any impact on the day-to-day operations of the businesses as GE has held operational control since the inception of the JVs.

About GE

GE (NYSE:GE) drives the world forward by tackling its biggest challenges. By combining world-class engineering with software and analytics, GE helps the world work more efficiently, reliably, and safely. For more than 125 years, GE has invented the future of industry, and today it leads new paradigms in additive manufacturing, materials science, and data analytics. GE people are global, diverse and dedicated, operating with the highest integrity and passion to fulfill GEís mission and deliver for our customers.†www.ge.com


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