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

Charlotte Area Transit launches LYNX Blue Line extension

The 9.3-mile extension, coined the Blue Line Extension (BLE) during construction, continues the alignment north from the previous terminus stop at 7th Street Station and now culminates at UNC Charlotte’s main campus.

Protran Technology names new director of sales

Kyley Holmstrom brings over 20 years of experience in senior management and sales, engineering operations, and purchasing in the rail industry, to the position.

NJ Transit continues closing gap on overcrowded trains

The agency's team was in Maryland earlier this week to inspect 20 railcars as a lease was being worked out.

Bombardier secures contract extension to maintain London Overground trains

The contract, originally signed in 2006 will now continue until 2030, removing a previous contract break in 2023.

San Diego NCTD celebrates SPRINTER's 10th Anniversary

The North County Transit District will hold community outreach and educational events through various SPRINTER stations.

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



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