Mumbai: Stocks of Alstom Group Companies – Alstom India Limited & Alstom T&D India have rallied up to 18% after parent Company Alstom declared that it has obtained a binding provide from General Power (GE) to obtain its energy business.
Alstom India has increased 18% to Rs 481 & Alstom T&D India has spiked up by 12% to Rs 297 on the BSE.
Alstom today said it is considering the proposed getting its energy activities by General Power & the making of a powerful standalone market leader in the rail industry.
The scope of the deal includes the thermal power, renewable power & grid sectors, as well as corporate & shared services, Alstom said in a press release.
The company will use the selling continues to enhance its transport business & make sure its ambitions growth, pay down its debts & return cash to its shareholders, it included.
But the French engineering firm said it would be open to a competing bid from In German firm Siemens, which is also interested in its power turbines business.
Alstom is the world’s leading energy solution & transport company. Present in India since 1911, Alstom has strong capabilities in engineering, manufacturing, project management & supply of product & solutions for power generation, transmitting & transport infrastructure requirements.
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