USA, France:

GE to Take Over Alstom (New Europe)

The two companies are big players in geothermal turbine manufacturing

U.S. company General Electric is expected to secure EU approval for its proposed € 12.4-bn-euro bid for French peer Alstom’s electricity generation and transmission business according to European Commission sources. The European Commission has a September 11 deadline to official announce its decision, but is expected to announce its final decision by August 21st.

Alstom is a major industrial holding company that France considers “strategic.” It energy division produces turbines for hydroelectric, gas, coal and nuclear-powered plants, as well as large-scale electrical grid infrastructure, solar-thermal, and geothermal systems. Its stock rose as news of finalizing the take-over came out. It also has a major rail production division.

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