GE: terms of Wabtec deal modified
(CercleFinance.com) - GE has announced a change in the terms of the merger of its GE Transportation division with Wabtec, a transaction set to be finalised by the end of February, subject to satisfaction of customary conditions.
Under the amended terms, Wabtec's shareholders will hold approximately 50.8% of the new entity's capital (instead of 49.9% as previously described), while GE shareholders will directly own 24.3%.
The conglomerate will hold ordinary shares and convertible preference shares without voting rights, together representing an economic interest of approximately 24.9% in Wabtec (against 9.9% as originally planned).
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Under the amended terms, Wabtec's shareholders will hold approximately 50.8% of the new entity's capital (instead of 49.9% as previously described), while GE shareholders will directly own 24.3%.
The conglomerate will hold ordinary shares and convertible preference shares without voting rights, together representing an economic interest of approximately 24.9% in Wabtec (against 9.9% as originally planned).
Copyright (c) 2019 CercleFinance.com. All rights reserved.