FAIRFIELD (dpa-AFX) - French engineering giant Alstom SA (AOMFF.PK, ALS.L) said its Extraordinary Shareholders' Meeting, convened on December 19, approved the transaction to sell Alstom's Energy businesses to General Electric. This meeting consisted of shareholders owning 64.25% of the total number of shares and voting rights. The resolution on this transaction was approved by a majority of 99.187%.
During the meeting, Chairman and CEO, Patrick Kron, reported on the project's progress with General Electric. Particularly, he indicated the board had taken note of a limited number of recent positive and negative adjustments on the terms of the transaction. The combination of these adjustments should not have a material impact on the transaction.
Following the information-consultation procedure with works councils and the authorisation relating to foreign investments in France, the support expressed by shareholders is a key milestone since the signing of the agreements with General Electric on November 4, 2014.
The transaction may close in the second quarter of 2015.
Copyright RTT News/dpa-AFX