Alstom power systems bloomberg

Why did Alstom stock drop 22%?

Alstom SA slumped after the train maker flagged a possible equity raise alongside job cuts and asset sales to help shore up its balance sheet. The shares dropped as much as 22% Wednesday, wiping €1.2 billion ($1.2 billion) off the company’s market value.

What are Alstom Power Systems?

[edit] Alstom power activities were collectively called Alstom Power Systems and included the design, manufacturing, services, and supply of products and systems for the power generation sector and industrial markets. The group covered most energy sources, including gas, coal, nuclear, hydro, wind.

Who are Alstom companies?

Alstom French companies established in 1928 Vehicle manufacturing companies established in 1928 Companies listed on Euronext Paris Companies formerly listed on the London Stock Exchange Companies formerly listed on the New York Stock Exchange Engineering companies of France Rolling stock manufacturers of France Rail infrastructure manufacturers

Why did Alstom stop selling shares?

Last month, the company had ruled out selling shares to raise capital. With the measures, Alstom aims to maintain its investment grade rating and reduce net debt by €2 billion by March 2025. The job cuts represent close to 10% of total sales and administrative positions and won’t affect engineering or factory workers.

Will Siemens buy Alstom?

On 16 June, Siemens and Mitsubishi Heavy Industries(MHI) submitted a competing offer for Siemens to acquire Alstom's gas turbine activities for €3.9 billion while MHI would form joint ventures with Alstom, acquiring 40%, 20% and 20% stakes in Alstom's steam and nuclear, electrical grid, and hydroelectricbusinesses respectively, for €3.1 billion.

What happened to Alstom Power Conversion?

In 2006, Alstom sold its Marine Division to the Norwegian group Aker Yards, with a commitment to retain 25% of the shares until 2010; it also sold Alstom Power Conversion, which became Converteam, in a leveraged buy-out deal funded by Barclays Private Equity France SAS.