The hottest Siemens will join hands with Mitsubish

Siemens will join hands with Mitsubishi to bid for Alstom

Siemens and Mitsubishi Heavy Industries of Japan have planned to jointly acquire Alstom of France. However, in such a "slowdown" environment, Alstom's energy assets mean that they will compete with General Electric (GE) of the United States. GE has proposed to acquire Alstom's energy business for us $16.9 billion

a person familiar with the matter said that Siemens executives now believe that working with another company is more likely to overcome the opposition of the EU antitrust authorities

last month, Siemens proposed to sell its train business to ALSTOM in exchange for Alstom's energy business. However, the above-mentioned insiders said that since Siemens has occupied Europe, like metal materials, there is no obvious fatigue limit; With a market share of nearly 50% of the high-voltage DC transmission market, if Alstom wants to close its business, it may be opposed by regulators

the person familiar with the matter added that one possibility for Siemens and Mitsubishi Heavy Industries to work together is that Mitsubishi Heavy Industries will purchase Alstom's electricity and steam turbine business, while Siemens will purchase Alstom's natural gas turbine business

Siemens previously said that it would put forward a formal bid for Alstom assets before June 16. It confirmed on Wednesday that the deadline also applies to the joint bid with Mitsubishi Heavy Industries

Shunichi MIYANAGA, President of Mitsubishi Heavy Industries, said: Siemens has always invited Mitsubishi Heavy Industries to join us. We firmly believe that we can make great contributions to ALSTOM to find a cooperative solution that will create value for all parties, including France

a French government official told the financial times that the French government was informed of the joint acquisition plan in advance, and stressed that the bidding conditions previously imposed on general electric and Siemens were also imposed on the joint bidders by Jinan new era Gold Testing Instrument Co., Ltd. wechat: 1595576014 welcome the user consultation meeting

the official said that at the end of April this year, Mitsubishi Heavy Industries contacted French Minister of economy and industry Arnaud montebourg for the first time, informing him of the potential acquisition of 245million euros of free cash flow interest, and told montebourg a few days ago that it might make a joint bid with Siemens

according to the latest regulations, any transaction with Alstom must be approved by the French government. The French government implemented this new regulation after Ge proposed the acquisition, with the purpose of giving itself new powers in examining foreign mergers and acquisitions

the official said that what the French government is most concerned about is that any transaction must be a balanced cooperation, not a direct merger and acquisition, and to ensure France's energy sovereignty

however, according to bankers familiar with the matter, some Alstom executives were angry that a non European company had even proposed to split a French champion