General Electric on call says structure of Alstom (ALSMY) deal has been altered, but strategic rational remains the same; deal terms remains unchanged; sees 1-2 cent reduction in EPS accretion (28.61)
GE says ALSMY will be the investor but GE will have operational control. GE says the first JV is renewables it's made up of ALSMY's offshore win and leading hydro business as well as some of their new renewable technologies. GE and Alstom will each own 50% of this venture.