Alstom completes public share buy-back offer, appoints new CEO
Alstom’s 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.
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.
More Rail
New York MTA Advances Final Contract for Second Avenue Subway Expansion
Contract Four is the largest in the Second Avenue Subway Phase 2 project and includes construction of station infrastructure, tracks, and signals for the subway expansion, MTA officials said. Work on Contract Four will begin in 2027.
Read More →
San Diego MTS Breaks Monthly Trolley Ridership Record
Agency officials said July’s ridership indicates MTS’s continued recovery from the pandemic.
Read More →
Report Examines NJ TRANSIT Reliability, Funding Challenges
The Garden State Initiative analysis examines the roles of Amtrak infrastructure, fleet management, and agency operations while recommending a more performance-based approach to improving reliability.
Read More →
Stadler, CapMetro Sign Long-Term Rail Fleet Support Agreement
Beginning in 2027, Stadler will provide on-site technical expertise, spare parts support, training, and obsolescence management to help extend the reliability and longevity of CapMetro’s GTW fleet.
Read More →
Biz Briefs: Alstom Lands Canadian Contract, LYT to Supply California TSP, and More
In METRO's latest installment, we take a look at recent news from Complete Coach Works, Beep, FlixBus, and more partnerships making headlines across the transportation sector.
Read More →
CATS Gold Line Marks 5 Years of Service, 2.8M Passenger Trips
With a six-mile expansion planned, the Charlotte streetcar is positioned to connect more neighborhoods and major transit hubs across the region.
Read More →
Why Simulating Pedestrian Movement Has Become Essential for Modern Rail Stations
Pedestrian microsimulation is helping rail planners identify bottlenecks, test station designs, and prepare complex transit hubs for growing passenger volumes.
Read More →
Amtrak Begins Major Construction at New York’s Sunnyside Yard
The new maintenance facility will support Amtrak’s Airo trainsets while improving maintenance efficiency and turnaround times in New York.
Read More →
Chicago Leaders Unveil Plans for O’Hare Airport Express Train
The privately developed project would offer a 15-minute trip between downtown and O’Hare’s Terminal 2, with trains operating every 15 minutes on a dedicated track. The service would use battery-electric trains and three existing freight rail rights-of-way.
Read More →
OCTA Maps Out 30-Year Strategy to Protect Coastal Rail Corridor
The draft feasibility report identifies strategies to protect the coastal rail line for decades as the agency continues near-term stabilization and sand placement efforts.
Read More →