Alstom completes share buy-back
ALSTOM: The public share buy-back offer which aimed to return to shareholders part of the proceeds of the energy business transaction with General Electric has been successfully completed, Alstom announced on January 28.
Following the reduction mechanism, 91·5 million shares representing around 29·5% of Alstom's capital have been repurchased for €3·2bn and cancelled. This takes the number of Alstom shares to approximately 220 million and market capitalisation to €5·4bn. Bouygues owns 28·3% of Alstom's capital.
The Alstom board has accepted Patrick Kron’s previously-announced resignation as Chairman& CEO with effect from February 1. He will be succeeded by Henri Poupart-Lafarge, who is currently Director & Executive Vice-President.