Alstom SA said a Canadian tram order may determine whether its train unit will have a record order intake this fiscal year as a 23 billion-euro ($30 billion) backlog helps the French manufacturer keep competition at bay.
Alstom SA, the French builder of trains and power plants, named Bank of America Corp. and Deutsche Bank AG to prepare the sale of a minority stake in its rail business, according to people familiar with the matter.
Alstom SA will deepen a cost-cutting drive and sell as much as 2 billion euros ($2.7 billion) in assets by the end of 2014 as the French maker of power equipment and trains seeks to sustain profit amid declining markets.
Alstom SA’s transport unit and the Serbian capital of Belgrade signed an agreement for the French company to provide trains and technology for Belgrade’s first subway line, the city’s biggest infrastructure project in decades.
Greece said it got expressions of interest from six groups, including one led by Alstom Transport SA, for a 515 million-euro ($662 million) project to extend an Athens metro line to the port of Piraeus, according to an e- mailed statement from the Environment and Public Works Ministry.
David Wormsley, the Citigroup Inc. banker accused by Terra Firma Capital Partners Ltd. founder Guy Hands of misleading him about an auction of EMI Group Ltd. , said he was the victim of a lie told by Hands the weekend before the bidding in May 2007.