Rail

Alstom completes public share buy-back offer, appoints new CEO

Posted on February 3, 2016

Alstom’s Board of Directors met January 28, 2016 to review the results of the public share buy-back offer and the governance of the company.

Alstom’s public share buy-back offer, aiming to return part of the proceeds of the transaction with General Electric on its energy businesses to shareholders, was successfully completed with over 230 millions of shares tendered. Following the reduction mechanism, 91.5 million of shares representing around 29.5% of Alstom’s capital have been repurchased by Alstom.

The Board approved the cancellation of the shares repurchased for an amount of approximately $3.5 billion, bringing Alstom’s number of shares to approximately 220 million and its market capitalisation to $6 billion based on the day's closing price. At the end of the operation, Bouygues owns 28.3% of Alstom’s capital.

With regard to governance of the company, Patrick Kron presented his resignation from his duties as chairman of the board and CEO of Alstom. The Board of Directors accepted his resignation effective Feb. 1, 2016 and decided to entrust such duties to Henri Poupart-Lafarge, currently Director and Executive VP of Alstom.

View comments or post a comment on this story. (0 Comments)

More News

Alstom debuts world's first hydrogen train entering passenger service

The zero-emission Coradia iLint, which debuted in Lower Saxony, Germany, can reach up to 140 km/h (90 mph).

WMATA announces contracting opportunity for Silver Line extension

Under the agency's plan to "Keep Metro Safe, Reliable and Affordable," the use of competitive contracting is recommended as a way to control operating and maintenance costs

Amtrak Pacifc Surfliner, MLB team up for rail safety awareness

Partners with San Diego Padres, Los Angeles Angels and California Operation Lifesaver to highlight the importance of safety around train tracks.

Zmudzinski to lead national rail systems at WSP

Will lead the firm’s transit and rail systems engineering team and support business development across the U.S.

4 teams submit design-build bids for Foothill Gold Line light rail project

Includes technical approach to completing the design and construction of the project, their management method, and financial bid.

See More News

Post a Comment

Post Comment

Comments (0)

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The number 1 resource for vocational truck fleets

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

LCT Magazine

Global Resource For Limousine and Bus Transportation