Siemens (SIEGn.DE) and Alstom’s (ALSO.PA) plan to create a European rail champion to take on a Chinese rival has failed to win over EU antitrust regulators despite German and French backing, people familiar with the...
Why Siemens-Alstom rail merger is creating tensions in Europe
Germany’s Siemens and France’s Alstom agreed in 2017 to merge their rail assets, hoping to create a European industrial champion. But the EU’s competition authority has doubts about the deal and could...
Siemens, Alstom offer to sell high-speed train technology – sources
Siemens (SIEGn.DE) and Alstom (ALSO.PA) have offered to sell either one of their high-speed train technology to address EU antitrust concerns about their plan to create a Franco-German rail champion, people familiar...
Hitachi to announce purchase of ABB’s power grid business Monday: Nikkei
Hitachi Ltd (6501.T) and ABB (ABBN.S) will announce on Monday a plan for the Japanese conglomerate to buy the Swiss engineering group’s power grid business, paying up to $7 billion for an initial 50 percent stake, the...
GE speeds plan to raise $4 billion cash, lifts sagging shares
General Electric Co (GE.N) plans to raise $4 billion in needed cash by year end, the company said on Tuesday, speeding its planned sale of a stake in oilfield services unit Baker Hughes (BHGE.N). The news boosted GE...
General Electric seeks urgent asset sales as bond fears rise
General Electric Co will sell assets with “urgency” to reduce its high debt, Chief Executive Officer Larry Culp said on Monday, as GE shares tumbled as much as 10 percent and the cost of insuring its debt hit a six-year...
GE in talks to sell commercial lighting unit to PE firm: Bloomberg
General Electric Co (GE.N) is in talks to sell its commercial lighting business to private equity firm American Industrial Partners, Bloomberg reported on Monday, citing people familiar with the matter. The deal could...
Kirloskar brothers go to NCLT as rift widens
Cracks in the Kirloskar family, which controls the 130-year-old Kirloskar Group, have widened. Brothers Rahul Kirloskar and Atul Kirloskar have approached the Mumbai bench of the National Company Law Tribunal (NCLT) to...
GE to sell $1 billion of energy investments to Apollo Global
General Electric Co (GE.N) said on Monday it plans to sell a portfolio of $1 billion in energy investments to Apollo Global Management LLC (APO.N), as the U.S. conglomerate sheds assets in its finance arm to focus on...
Shinryo Corporation acquires Suvidha Engineers India
Japanese heating, ventilation, and air conditioning (HVAC) major Shinryo Corporation Wednesday announced the acquisition of Suvidha Engineers India Pvt Ltd for an undisclosed sum. The deal has been concluded and signed...
Emerson Electric to buy GE’s intelligent platforms division
Factory automation equipment maker Emerson Electric Co (EMR.N) on Tuesday agreed to buy General Electric Co’s (GE.N) intelligent platforms business, a day after the conglomerate replaced its chief executive officer. The...
Singapore’s ST Engineering to buy aircraft part maker from GE for $630 million
Singapore Technologies Engineering Ltd on Thursday said it had agreed to purchase aircraft part manufacturer MRA Systems from General Electric Co for $630 million. The Singapore-based company, which conducts maintenance...
