The GE-Alstom saga: beginning to end

Author: Lizzie Meager | Published: 18 Nov 2015

One of the most hotly-debated deals on both sides of the Atlantic closed earlier this month as the European Commission (EC) reaffirmed its position as the toughest merger control regulator in the world.

Back in April 2014, General Electric’s (GE) deal with Alstom was, in its simplest form, a proposed takeover of French company. A year and a half later and it is now an asset swap of GE’s rail signalling business for Alstom’s energy subsidiaries, for €700 million ($751 million) and €12.4 billion, respectively.

The two companies then resolved to establish joint ventures in the renewable energy, grid transmission and nuclear sectors to smooth the transition process, explained Andrew Briggs, a partner at Hogan Lovells who advised Alstom.

"It’s a pretty exceptional transaction overall, in terms of size, character, the intense antitrust process and the sheer length of it all as well," said Suyong Kim,...