Siemens and Mitsubishi consider joining forces for Alstom
Mitsubishi Heavy Industries (MHI) and Siemens AG announced that they have joined forces in evaluating a potential proposal for certain energy assets of the French multinational conglomerate, Alstom.
According to sources, one option being discussed is that Mitsubishi Heavy buys Alstom's steam turbine and grid business and Siemens to get the gas turbine operations. MHI and Siemens will decide on the submission of a proposal to Alstom's Board of Directors by June 16.
Shunishi Miyanaga, President and CEO of Mitsubishi Heavy Industries, stated:
MHI has been invited by Siemens to join forces and we firmly believe that we can substantially contribute to a partnership solution for Alstom which will create value for all parties involved, including the country of France.
Joe Kaeser, President and CEO of Siemens, stated:
I appreciate MHI's commitment to join our efforts and I do look forward to working together with MHI to create a long-term oriented solution for Alstom, MHI and Siemens.
General Electric has already made a US$16.9 billion bid for Alstom's energy business accepted by the French company's board. However, Parisian political stopped the transaction and opened the door for Siemens to make a rival offer. Both Siemens and GE have been trying to get the backing of the French government which is seeking to extract the best guarantees from any bidder for jobs and the country's energy independence.
Siemens already controls close to 50 per cent of the European Union's high-voltage direct current energy market.
Alstom has solutions for all energy sources (coal, gas, nuclear, fuel-oil, hydropower, wind) and is a leader in innovative technologies for the protection of the environment (reduction of CO2 emissions, elimination of pollutant emissions).
Country news
-
-
June 17, 2014
Mitsubishi and Siemens explain bid for Alstom
Mitsubishi Heavy Industries (MHI) and Siemens AG yesterday announced that they have provided a proposal to acquire certain assets of French multinational conglomerate, Alstom. Read more -
July 18, 2014
Macquarie Atlas Roads raises stake in APRR
Macquarie Atlas Roads (MQA) announced on Wednesday that it has entered into an agreement to acquire an additional 1.4% interest in Macquarie Autoroutes de France 2 SA (MAF2), the company through which MQA and certain Macquarie-managed entities hold their indirect investment in Autoroutes Paris-Rhin-Rhône (APRR). Read more -
July 21, 2014
Ardian to buy a stake in French construction firm Spie batignolles
Ardian, the French independent private investment company, has signed an agreement with Equistone Partners and the group's management and employees to acquire a shareholding in Spie batignolles. Following this transaction, Ardian, alongside the group's management, will acquire the 20% stake owned by Equistone to support the future development of Spie batignolles, notably through build-ups. Read more -
July 28, 2014
Perrigault acquires a 50 % stake in APM Terminals Le Havre
Perrigault SA., the Le Havre-based port and logistics operator, and APM Terminals announced last week the completion of the sale of APM Terminals' 50% share in Terminal Porte Océane (TPO) and Société d'Exploitation du Terminal Porte Océane to Perrigault SA. on 22 July 2014. Read more -
July 29, 2014
Launch of first French and European project bond for superfast broadband
FIDEPPP (Fonds d'investissement des Caisses d'Epargne), which is managed by the asset management company Mirova (a subsidiary of Natixis Asset Management), Caisse des Dépôts, Bouygues Energies & Services and Axione (subsidiaries of Bouygues Construction), all shareholders of Axione Infrastructures, have been working with the European Investment Bank and the European Commission and are launching the first project bond in France and Europe involving digital infrastructure. This issue, which has been managed by Nataxis, provides a concrete, financial and industrial response to the challenge of broadband access in sparsely populated areas. Read more
