Alstom redemption by General Electric curly Sunday?
This is not yet a blitzkrieg but it looks like more. Wednesday, April 23 partially revealed by the agency Bloomberg, the proposed acquisition by the U.S. General Electric (GE) of energy 'activities of Alstom , which account for nearly three quarters of the activity of the French, is accelerating.
According to our information, the "deal" could be completed as soon as Sunday, April 27th by Patrick Kron, CEO of industrial lights, and announced Monday, April 28 in the morning, before the opening of the stock exchange of Paris and the resumption of trading the title Alstom suspended Friday at the request of the Autorité des marchés financiers .
Read also: The State calls in discussions between Alstom and General Electric
While a first board of directors of the tricolor turbine manufacturer and TGV was held Friday afternoon in Paris, a second is set for Sunday afternoon. It could prove decisive.
THE BOSS OF GENERAL ELECTRIC TO PARIS Sunday
The boss of GE, Jeffrey Immelt, who succeeded in 2001 to the famous Jack Welch, is expected in the capital Sunday to continue the discussions begun with the direction of Alstom and meet some of the principal officers of the group. Mr. Immelt should also be received by Arnaud Montebourg, the minister of the economy, and perhaps François Hollande at the Elysee Palace, or Manuel Valls , the Prime Minister, if he came back in time to Rome, where he must attend the canonization Mass of John XXIII and John Paul II.
"Kron clearly wants to make the government and speed loop operation as soon as possible, in order to avoid it being called into question, "decrypts near negotiations to explain this accelerated schedule.
Asked Friday by Le Monde, Mr. Montebourg, it is true, stated that "the government worked [ed] to alternatives and contingencies than imagined alone and without the government being informed by Alstom." Way to say that Patrick Kron, whose intransigence is known, is not supported by the executive and its precipitation is moderately appreciated.
TRACK AN ALLIANCE WITH SIEMENS
Reportedly, David Azéma, the Director General of the Agency for State Holdings, try to activate emergency several avenues explored in recent months by Bercy to come in aid to Alstom, experiencing significant difficulties.
One of them would be an alliance or merger of some activities with the German company Siemens to build the "great Franco-German company for the energy transition" desired by François Hollande during his press conference on January 14.
The catch? Of Alstom's management does not want to hear talk of the "Airbus energy" Kron. "would rather be burned on a pyre rather than s' alliance with Siemens, provides for his family. Not by anti-Germanism, but because it would be a massacre social and dismantling term Alstom, as the activities of both groups are redundant. "
According to various interlocutors, other tracks are also contemplated, including reducing the scope of discontinued operations and limit the impact, very symbolic of the sale to GE.
The "electricity distribution networks and" division, which represents 19% of 20.2 billion euros in turnover of Alstom, could be given to Schneider Electric . Similarly, offshore wind turbines, whose French is one of the main promoters could be recovered by Areva .
Negotiations ON OFFSHORE WIND
Some also pushing for GE to make concessions to make the "deal" acceptable. Reportedly, negotiations are taking place between Clara Gaymard, president of GE in France , and Mr. Montebourg, during a meeting at Bercy Friday night.
One of the main topics of discussion would, in addition to the guarantee of employment in factories in France and commitment are leading investment on the location of several centers of decision of General Electric.
According to a close to the negotiations, the giant Connecticut would be ready to implement in France the seat of its offshore wind business. Similarly, he agreed to locate to Paris some decision centers currently located in other European countries.
At Bercy, it also stresses that it is not the quality of General Electric is involved. Longtime partner of Safran , the U.S. group employs 11 000 people in France and has its European headquarters in Belfort .
Chevènement, Senator MRC Belfort, nevertheless stated in a letter Friday to Mr. Valls, that the sale of the energy industry Alstom "deal a fatal blow to the independence of [the] industry power. " The former minister also argued that General Electric, "if at first developed its products in Belfort, now tends to relocate part of its manufacturing in the United States."
Result: a floating reigned Saturday morning on the side of the executive "Either the state does. break the deal but leaves Alstom in trouble for lack of solution, or he accepts the offer of G E but gives the impression of selling off a tricolor flagship Americans, "said one adviser . govern is to choose , said Mendes France ...