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By: Tom Russell 02/11/2015 GE

General Grid Windfarms

General Electric (GE) announced today that it has completed the acquisition of Alstom’s power and grid businesses.

The completion of the transaction follows the regulatory approval of the deal in over 20 countries and regions including the EU, U.S., China, India, Japan and Brazil. It is GE’s largest-ever industrial acquisition.

GE reached an agreement with Alstom in 2014 to purchase Alstom’s power and grid businesses for €12.35 billion. However GE stated that adjustments for the joint ventures announced in June 2014 (renewables, grid, and nuclear), changes in the deal structure, price adjustments for remedies, net cash at close, and including the effects of currency, settled the purchase price at €9.7B (approximately £6.92B). This includes working capital usage of approximately €0.6B in the month of October.

“The completion of the Alstom power and grid acquisition is another significant step in GE’s transformation,” said Jeff Immelt, chairman and CEO, GE. “The complementary technology, global capability, installed base, and talent of Alstom will further our core industrial growth. We are open for business and ready to deliver one of the most comprehensive technology offerings in the energy sector for our customers.”

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