Alstom Eyes $5 Billion Share Buyback Following GE Deal
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Alstom SA, the French company selling most of its energy-equipment businesses to General Electric Co. to focus on trainmaking, may return as much as 4 billion euros ($5 billion) to shareholders following the deal.
Alstom’s board proposes that the company keeps two-thirds of the 12.35 billion euros coming from GE transaction to cut debt and strengthen its balance sheet, it said in a statement last night. The remainder could be distributed to shareholders via a share buyback. The stock gained as much a 4.2 percent in Paris trading today.