EU Commission and US DOJ approve Alstom-GE transaction conditionally

The European Commission and the US Department of Justice have approved General Electric's (GE) planned acquisition of Alstom's energy businesses. The approvals are conditional, requiring specific arrangements to maintain competition.

These regulatory clearances represent a significant step forward for both Alstom and GE in the complex transaction process. The approvals enable the finalization of the deal, which is anticipated to occur in the latter part of the fourth quarter of 2015. Following completion, Alstom intends to sharpen its focus on rail and transport solutions.

Alstom's Chairman and CEO Patrick Kron stated that GE's commitments protect the company's employees, shareholders, and customers while preserving market competition. The transaction has received approvals from numerous regulatory bodies worldwide.

The company indicated that the sale of its energy businesses to GE will allow Alstom to pursue an ambitious growth strategy within the transport sector. A shareholders' meeting will subsequently address a public buy-back offer.