Toshiba gives up on acquiring Alstom energy business
Japan, Tokyo: Toshiba has abandoned the idea of trying to get a piece of Alstom from General Electric (GE), chosen by Alstom as a partner for its energy industry.
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Japan, Tokyo: Toshiba has abandoned the idea of trying to get a piece of Alstom from General Electric (GE), chosen by Alstom as a partner for its energy business.
The Japanese press had previously stated that Toshiba was interested in the Alstom energy business. However, since General Electric and Alstom will share equally the three joint ventures in renewable energy, power grids and steam turbines, Toshiba considers it has a very small chance of success.
Previously, Toshiba considered that the priority for GE was not the distribution part of Alstom and if Toshiba took it over, the sum to pay for GE would be even smaller, reports Romandie.
Toshiba, which already has a very substantial energy activity, with equipment for power stations and other devices, nevertheless would have liked to acquire the Alstom distribution business (transformers, management systems…) to become more powerful in this field worldwide.
Toshiba will continue to discuss energy with GE since they have already formed an alliance to participate in projects for combined cycle power plants.
Source: Romandie
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