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

NJ Transit continues to implement rail safety upgrades

Rail Operations is currently in the process of replacing all stub end tracks at Hoboken Terminal with new sliding friction bumper blocks, as well as advancing a speed control system for trains entering Hoboken Terminal.

WSP USA projects recognized with three Calif. transportation awards

The Exposition Line Light Rail in Los Angeles received the California Transportation Foundation's Overall Project of the Year award.

City Council approves transfer of Atlanta Streetcar to MARTA

The $99 million streetcar opened in December 2014 amid sky-high expectations, but ridership failed to meet expectations in its first year and plummeted nearly 60% after the city began charging $1 to ride.

Honolulu officials submit new light rail plan to FTA

The total project cost included in the new plan remains at $8.165 billion for capital costs exclusive of finance charges, with full revenue service scheduled for December 2025.

Alstom to supply traction system in Chengdu, China

The contract is worth approximately $68.3 million. The line is expected to start revenue service by the end of 2019.

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

Please sign in or register to .    Close