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Siemens, Mitsubishi unveil joint bid for Alstom's energy ops

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(Globalpost/GlobalPost)

Siemens and Mitsubishi Heavy Industries unveiled Monday the terms of their joint bid for the energy assets of French industrial jewel Alstom, also coveted by General Electric in the US.

Siemens said in a statement that it "intends to acquire 100 percent of Alstom's gas business, including related service contracts, for 3.9 billion euros ($5.3 billion) in cash".

Japan's MHI "will inject into Alstom 3.1 billion euros in cash. MHI also intends to become a stable and long-term shareholder of Alstom by offering to acquire up to 10 percent stake from Bouygues," the statement said.

spm/cah

http://www.globalpost.com/dispatch/news/afp/140616/siemens-mitsubishi-unveil-joint-bid-alstoms-energy-ops