Disposal
August 01 2003 - 5:11AM
UK Regulatory
RNS Number:2293O
Alstom
1 August 2003
ALSTOM COMPLETES THE SALE OF ITS MEDIUM GAS
TURBINES AND INDUSTRIAL STEAM TURBINES
BUSINESSES TO SIEMENS
ALSTOM announces that it has now completed the major part of the disposal of it
medium gas turbines and industrial steam turbines businesses to Siemens AG. This
was the second of the two transactions with Siemens AG announced on 28 April, by
which ALSTOM sold its industrial turbines businesses for an enterprise value of
Euro1.1 billion and net cash proceeds of Euro950 million.
Completion of this second transaction follows receipt of formal merger clearance
from merger control authorities, principally in the US and Europe.
The disposal of the small gas turbine business to Siemens AG was completed on 30
April 2003.
Certain minor parts of the business have not yet been transferred to Siemens AG
pending completion of legal procedures in some jurisdictions.
ALSTOM is a global leader in energy and transport infrastructure. The Company
serves the energy market through its activities in the fields of power
generation and power transmission and distribution, and the transport market
through its activities in rail and marine, in fiscal year 2002/03, ALSTOM had
annual sales in excess of Euro20 billion and employed around 100,000 people in over
70 countries worldwide.
Press enquiries: G. Tourvieille
Tel. +33 1 47 55 23 15
internet.press@chq.alstom.com
Investor relations: E. Chatelain
Tel.+33 1 47 55 25 33
investor.relations@chq.alstom.com
This information is provided by RNS
The company news service from the London Stock Exchange
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