As France prepared for a night of soccer frenzy, hoping to see its team crush Switzerland in the World Cup, Economy Minister Arnaud Montebourg appeared in Paris with a surprise announcement.
Jeffrey Immelt vanquished Siemens AG in the jockeying for Alstom SA’s energy assets and appeased French politicians. Now he’s looking ahead to the next obstacle: European regulators.
After tussling with French government officials, Jeffrey Immelt said he is confident General Electric Co.’s $17 billion deal for Alstom SA’s energy assets will win approval from European regulators.
Jeffrey Immelt clinched General Electric Co.’s biggest acquisition ever, the $17 billion purchase of Alstom SA’s energy assets, after the resolution of the French government’s last condition for the deal.
French lawmakers were set to hear from the head of General Electric Co.’s local operations about the $17 billion bid for Alstom SA’s energy assets. Then Jeffrey Immelt flew in.
"Deals like this come around infrequently, particularly at this kind of valuation."
- Jeffrey Immelt on Jul 18, 2014
GE’s Immelt Targets Growth Rate That Is `Twice GDP’
Gunderson Discusses President's Jobs Commission