The file looks pest for young Valls government. The U.S. General Electric looks good to Alstom, the tricolor specialist in energy and transport infrastructure, as revealed by Bloomberg, Thursday, April 24. He covets its activities in energy, more than 73% of Alstom's activities. Priced around 10 billion euros for these assets is mentioned, not including the 2 billion cash housed in Alstom Power.
Reacting Friday, April 25 for the first time these revelations, Arnaud Montebourg, the Minister of Economy, sailing his intentions: "The government is working on alternatives and contingencies than imagined alone and without the government does Alstom has been informed, "he says in the world.
"Alstom is the symbol of our industrial power and French ingenuity. In this case, the government expresses a concern and patriotic vigilance.
This high vigilance is focused on the serious risk of loss of a center of decision, the desire and the need to strengthen our industrial base by getting French industrial relocations in France , and the number of jobs lost or created in such operations. "
"I met Mr. Patrick Kron yesterday. With the Prime Minister, will meet soon President General Electric to put the dialogue on the grounds of these concerns, "concluded the Minister.
AN AGREEMENT THIS WEEKEND ?
The discussions should s' speed , some evoking the possibility of an agreement once this weekend. The price of Alstom shares was suspended on Friday morning before the opening. The project is led directly by Patrick Kron, CEO of the rigid group. The leader should, moreover, according to our information, s' explain Friday afternoon with its directors.
Mr. Kron, traveling abroad, had to return urgently to Paris Thursday afternoon. According to our information, the government has even sent a car to recover the boss Alstom at Le Bourget airport for take Bercy all sirens blaring, where he met Arnaud Montebourg. Mr. Kron was then received at the Elysée by Emmanuel Macron, the Deputy Secretary General of the Presidency of the Republic.
The hypothesis of a butchering giant Alstom by Connecticut falls in any case at the worst time when many traffic champions, giant Publicis advertising and cement Lafarge , are poised to move their headquarters outside of France on the occasion of transnational mergers, the first in the Netherlands and the second in Switzerland .
As such, the manufacturer of the TGV is a national icon, with its 93,000 employees, including 18,000 in France, and the role of leader of a center of excellence in engineering trades that allow the tricolor of float worldwide.
This status had justified a resounding public rescue in 2004, when the group through a bad patch. At the time, the decision to fly to the rescue of endangered flagship was taken by Francis Mer, Minister of Economy, but the rescue operation itself, including negotiation top flight with Brussels, had was driven closer by his successor Nicolas Sarkozy a ... It will be difficult for the Dutch government let go under the American flag 70% of a group that was saved by Nicolas Sarkozy .
GENERAL ELECTRIC, MOST OF AMERICAN FRENCH
Given the strategic importance of energy Alstom's activities, the government might have the means to s' interpose . But it is not as simple. First, because General Electric has nothing unwanted predator. Then, because Alstom needs a backing to strengthen a balance sheet too limited.
Without consteste, General Electric and is the most French of American through its joint venture established in 1974 with the former Snecma, now Safran in aircraft engines. The chaired by Clara Gaymard in France group employs 11,000 employees. The company showed their credentials by implanting in Belfort - ex-bastion of Alstom turbines - with European headquarters.
So when Areva was sold in 2009 its subsidiary, Transmission & Distribution, the French government was very concerned about spare the susceptibilities of the candidate General Electric, while supporting the project tricolor represented by Alstom and Schneider. For the U.S., put his hand on energy activities including Alstom allow him to recover the transmission activity that had eluded him.
This acquisition forced the French to s' borrow heavily, when he was abused in its markets. To save its balance sheet, Alstom plans to introduce in exchange its transport subsidiary. But experts consider this insufficient operation. As a sinister omen, the Standard & Poor's has also lowered a notch Thursday Alstom notation, pointing sluggish European markets for several years.
SOLUTION "TO THE PSA PEUGEOT CITROËN "
For several months, the government itself questioned the future of the French industrial flagship. Bercy was even ordered and received in early 2014, a report by Roland Berger Strategy firm.
According to our information, the report called for further cooperation between Alstom and its major partners. Or to explore the path of rapprochement with Areva , Siemens and Schneider was suggested. Mentioned as a solution "to the PSA Peugeot Citroën, "with a capital increase and the formation of a round table bringing together state and an industrial shareholder.
"But that does not hold water because, unlike the Chinese Dongfeng who wanted to strengthen its technical collaboration with PSA, no partner has wanted to enter in Alstom's capital, "says one close to the situation. Yet it is this path that could try to push the state.
For over a year, in any case, Patrick Kron consider all solutions. It would thus be concluded that General Electric is the best option. "In the long term, there is a real complementarity between energy activities of Alstom and GE argues a professional. They complement each other well geographically French is hard on the steam turbine while the U.S. is less ... "
However, this Franco-American wedding will be difficult to justify the executive even though the January 14 François Hollande called for the creation of a "Airbus energy."
"There is an energy that Boeing is prepared," scoffs one observer. Discussions with Siemens have not led. German wanted to hand over power to him Alstom and sell its transport business. But Patrick Kron has held such approximation socially costly.