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EU: GE open to concessions on €12.4 billion Alstom deal

By  |  May 12, 2015

General Electric is willing to consider concessions to win European regulatory approval to acquire Alstom’s power business.

The €12.4 billion deal for Alstom’s power equipment unit, announced over a year ago, remains under review, and GE executive Steve Bolze told Reuters: “We are willing to explore remedies to get this deal done even though again we believe in the merits of the deal.”

Bolze, president and CEO of GE Power & Water, the American conglomerate’s biggest industrial unit, acknowledged the “protracted process” for Alstom, and said GE was focused on “how to move … forward as it makes sense”.

Bolze added that any concessions will have to “preserve the deal economics and our strategic value.

He, however, refused to discuss any potential areas of remedies that GE might consider.

 

Full content: Reuters

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