Alstom: MoU signed with Siemens.
(CercleFinance.com) - Siemens and Alstom have announced a MoU to combine Siemens' mobility activities with Alstom.
Siemens will receive newly issued shares in the merged company, representing 50% of Alstom's capital on a fully diluted basis.
The new entity will have a backlog of 61.2 billion euros, turnover of 15.3 billion euros and an adjusted operating margin of 8%. It is expected to generate annual synergies of 470 million euros at the latest four years after its completion.
The extraordinary general meeting deciding on the transaction, unanimously backed by Alstom's Board of Directors, will be held by 31 July 2018, and the deal should be completed at the end of the calendar year 2018.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
Siemens will receive newly issued shares in the merged company, representing 50% of Alstom's capital on a fully diluted basis.
The new entity will have a backlog of 61.2 billion euros, turnover of 15.3 billion euros and an adjusted operating margin of 8%. It is expected to generate annual synergies of 470 million euros at the latest four years after its completion.
The extraordinary general meeting deciding on the transaction, unanimously backed by Alstom's Board of Directors, will be held by 31 July 2018, and the deal should be completed at the end of the calendar year 2018.
Copyright (c) 2017 CercleFinance.com. All rights reserved.