Alstom and GE complete transfer of ownership of three JVs

GE has announced that, according to the May 2018 agreement with Alstom, the two companies have completed the transfer of ownership of the three joint ventures (JVs) that were established at closing of the acquisition of Alstom’s Power and Grid assets in November 2015.

The transfers give GE full ownership of the three former JVs.

As a result of the transfers, GE paid to Alstom today an aggregate amount of approximately $3 billion, the company said in the press statement.

Source: GE