Paris-based ALSTOM signed a framework agreement with Bouygues that will lead to operational and commercial cooperation between the two companies.
Bouygues is purchasing a 21% stake in ALSTOM that is currently held by the French government, which intervened in July 2004 to help ALSTOM’s recovery.
The sale is subject to the approval of European Commission antitrust authorities and to the closing of ALSTOM's Marine disposal division, which is planned in the coming weeks.
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