Alstom in major share buyback after General Electric deal
Paris
THE French industrial group Alstom said on Wednesday it planned to stage a 3.2-billion-euro (S$4.9 billion) share buyout following the sale of its energy assets to General Electric (GE).
Under the offer, 91.5 million shares, amounting to 29.5 per cent of capital, will be repurchased at 35 euros apiece and then cancelled under a strategy to refocus the company, it said. The offer price is a 17.6 per cent premium over Tuesday's market close, and 21.8 per cent higher than the weighted average for the previous month, it said.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Energy & Commodities
Gold dips as US dollar edges higher, investors seek more Fed cues
Saudi Arabia posts budget deficit of US$3.3 billion in first quarter
Saudi Arabia hikes oil selling prices for all grades to Asia
BHP’s biggest rivals sit on the sidelines of Anglo M&A drama
ExxonMobil to take 18 to 24 months to hit full stride with Pioneer purchase
Oil settles down on US jobs data, steepest weekly loss in three months