France Secures Alstom Stake Option Ahead Of GE Tie-up
France won an option to buy 20 percent of Alstom from construction group Bouygues on Sunday, in an eleventh-hour deal clearing the way for the agreed sale of Alstom’s energy business to General Electric . The government had backed the tie-up on condition that it first secured the Alstom stake from Paris-based Bouygues – leaving less than three days to negotiate an agreement before GE’s formal offer expires on Monday. Ministers are determined to maintain influence over a complex deal that parks some Alstom assets deemed strategically important to France within GE-controlled joint ventures.
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