Alstom: MHI could acquire 11% stake alongside French government as part of deal with Siemens
Japan’s Mitsubishi Heavy Industries (MHI) is considering acquiring a stake in Alstom as part of a proposed joint transaction with listed German industrial group Siemens, French daily Le Figaro reported. The report cited a person in the know as saying that MHI could make a partnership offer to Alstom by Monday next week, whereby Siemens could acquire the French company’s gas turbine business and sell Siemens' railway operations back to Alstom. MHI could take a minority shareholding in the power operations of Alstom, including the steam turbine business, and a 10-11% stake in the French group directly.
According to the report, MHI would be asking the French government to acquire a stake of the same size. The report noted that Patrick Kron, the head of Alstom, contacted MHI in fall last year, but was then rebuffed by the Japanese group.
Source Le Figaro