As a result of the transfers, GE paid to Alstom an aggregate amount euro 2.594 billion
GE T&D India has completed the acquisition of Alstom’s minority ownership of the three joint ventures (JVs) that were established at closing of the acquisition of Alstom’s Power and Grid assets in November 2015.
As a result of the transfers, GE paid to Alstom an aggregate amount euro 2.594 billion. These transfers will not have any impact on the day-to-day operations of the businesses as GE has always held sole operational and management control over the JVs since their inception. GE Grid Alliance BV, the shareholder of GE T&D India was one of the JVs.
GE T&D India is engaged in power transmission and distribution. Its products and systems serve to transmit and distribute electricity, ensure the reliability, quality and safety of energy flows, as well as operate efficient networks through information management.