Bouygues to Sell Stake in Alstom
September 29 2020 - 12:42PM
Dow Jones News
By Kim Richters
Bouygues SA said Tuesday that it will sell part of its stake in
Alstom SA, entering a forward sale transaction with BNP Paribas
SA.
The French construction-and-media conglomerate plans to divest
11 million shares, or an approximately 4.8% stake, in Alstom,
saying the deal "will provide Bouygues with increased financial
flexibility."
It expects the transaction settlement on Nov. 3.
The French bank is the sole coordinator for the transaction and
will conduct an accelerated bookbuild offering to qualified
investors.
Bouygues currently holds around 32.9 million shares, or 14.5%,
of the French train maker's share capital. It previously sold 29.15
million Alstom shares in September last year.
Bouygues also said it will be voting in favor of Alstom's
planned takeover of Bombardier Transportation at the extraordinary
shareholders' meeting on Oct. 29.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
September 29, 2020 12:27 ET (16:27 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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