Alstom closes sale of energy business to GE

[November 02, 2015]  PARIS (Reuters) - French group Alstom <ALSO.PA> said on Monday that it had completed the 12.35 billion euro ($13.6 billion) sale of its energy business to General Electric.

General Electric said the final purchase price was 9.7 billion euros, adjusted for proceeds Alstom is reinvesting in joint ventures with GE, changes in the deal structure, priceadjustments for remedies, net cash, and currency effects.

Alstom, which previously announced that it aimed to complete in the fourth quarter a sale transaction that will refocus it on the transport sector, said it planned to return between 3.2 and 3.7 billion euros of the sale proceeds to shareholders.

Alstom, which among other transport sector activities builds trains, has scheduled a board meeting on that issue for Nov. 4.

($1 = 0.9083 euros)

(Reporting by Benjamin Mallet; Writing by Brian Love; Editing by James Regan)

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