RSS   Newsletter   Contact   Advertise with us

Mitsubishi Heavy may acquire 10% stake in Alstom

Share on Twitter Share on LinkedIn
Staff writer ▼ | June 16, 2014
Mitsubishi Heavy Industry is upping the ante in its bid to buy energy businesses from France's Alstom. The Nikkei has learned that the Japanese company is now offering to buy about 10% stake in the French heavy electric machinery maker.
Alstom
AlstomMitsubishi Heavy Industry is upping the ante in its bid to buy energy businesses from France's Alstom. The Nikkei has learned that the Japanese company is now offering to buy about 10% stake in the French heavy electric machinery maker.


Mitsubishi hopes that the capital injection will pave the way for it to team up with Germany's Siemens and purchase turbine businesses from Alstom.

There is something of a global fight for Alstom's energy assets. U.S.-based General Electric was the first to kick the tires of Alstom's energy businesses. Then Mitsubishi Heavy Industries and Siemens followed. Now Mitsubishi and Siemens are planning a 1 trillion yen ($9.8 billion) joint bid for Alstom's gas and steam turbine operations.

But the French government voiced concerns that spinning off the energy units would undermine Alstom's business and employment foundations.


 

MORE INSIDE POST